People’s United Financial (PBCT) Upgraded to Equal Weight by Barclays

Barclays upgraded shares of People’s United Financial (NASDAQ:PBCT) from an underweight rating to an equal weight rating in a research note released on Thursday morning, MarketBeat Ratings reports. They currently have $18.00 price objective on the bank’s stock.

A number of other equities research analysts have also issued reports on PBCT. BidaskClub raised People’s United Financial from a sell rating to a hold rating in a research note on Friday, January 4th. Zacks Investment Research raised People’s United Financial from a hold rating to a buy rating and set a $19.00 target price on the stock in a research note on Tuesday, October 9th. Wells Fargo & Co reaffirmed a hold rating on shares of People’s United Financial in a research note on Thursday, January 3rd. FIG Partners assumed coverage on People’s United Financial in a research note on Thursday, December 20th. They issued an outperform rating on the stock. Finally, ValuEngine lowered People’s United Financial from a hold rating to a sell rating in a research note on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $19.93.

Shares of NASDAQ:PBCT traded up $0.08 during trading on Thursday, hitting $15.21. 3,747,080 shares of the stock were exchanged, compared to its average volume of 4,223,035. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 5.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. People’s United Financial has a 12-month low of $13.66 and a 12-month high of $20.26.



People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. The firm had revenue of $398.70 million for the quarter, compared to analyst estimates of $404.65 million. During the same quarter in the prior year, the company earned $0.26 EPS. On average, equities analysts anticipate that People’s United Financial will post 1.29 earnings per share for the current year.

In other news, VP David K. Norton sold 32,163 shares of the company’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total transaction of $478,907.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank increased its holdings in shares of People’s United Financial by 462.5% during the 4th quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock worth $29,000 after buying an additional 1,665 shares during the last quarter. IMS Capital Management acquired a new stake in shares of People’s United Financial during the 3rd quarter worth $60,000. Federated Investors Inc. PA acquired a new stake in shares of People’s United Financial during the 3rd quarter worth $117,000. Citizens Financial Group Inc RI acquired a new stake in shares of People’s United Financial during the 3rd quarter worth $159,000. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of People’s United Financial during the 3rd quarter worth $173,000. Institutional investors and hedge funds own 73.52% of the company’s stock.

About People’s United Financial

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.

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