Analysts predict that People’s United Financial, Inc. (NASDAQ:PBCT) will post sales of $432.76 million for the current quarter, according to Zacks. Five analysts have issued estimates for People’s United Financial’s earnings, with estimates ranging from $430.10 million to $437.40 million. People’s United Financial reported sales of $386.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.1%. The company is expected to announce its next earnings results on Thursday, April 18th.
According to Zacks, analysts expect that People’s United Financial will report full-year sales of $1.81 billion for the current year, with estimates ranging from $1.78 billion to $1.84 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.91 billion, with estimates ranging from $1.87 billion to $1.97 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow People’s United Financial.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, January 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. People’s United Financial had a net margin of 24.34% and a return on equity of 8.11%. The firm had revenue of $428.20 million for the quarter, compared to analysts’ expectations of $432.25 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year.
PBCT stock opened at $16.97 on Tuesday. People’s United Financial has a 12-month low of $13.66 and a 12-month high of $20.26. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 5.99 and a beta of 1.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, January 31st. People’s United Financial’s dividend payout ratio is currently 53.44%.
In related news, VP David K. Norton sold 32,163 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $14.89, for a total transaction of $478,907.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark W. Richards sold 6,800 shares of the business’s stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $16.43, for a total transaction of $111,724.00. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PBCT. BlackRock Inc. lifted its stake in shares of People’s United Financial by 9.6% in the fourth quarter. BlackRock Inc. now owns 35,412,815 shares of the bank’s stock worth $511,006,000 after buying an additional 3,095,130 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of People’s United Financial by 224.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,222,670 shares of the bank’s stock worth $46,503,000 after buying an additional 2,228,618 shares in the last quarter. AMF Pensionsforsakring AB bought a new position in shares of People’s United Financial in the fourth quarter worth approximately $30,116,000. AXA lifted its stake in shares of People’s United Financial by 1,004.4% in the third quarter. AXA now owns 650,278 shares of the bank’s stock worth $11,133,000 after buying an additional 591,400 shares in the last quarter. Finally, Vanguard Group Inc lifted its stake in shares of People’s United Financial by 1.6% in the third quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock worth $637,012,000 after buying an additional 582,938 shares in the last quarter. Hedge funds and other institutional investors own 73.92% 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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