People’s United Financial, Inc. (NASDAQ:PBCT) Shares Acquired by Surevest Inc.

Surevest Inc. lifted its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 35.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,140 shares of the bank’s stock after acquiring an additional 27,263 shares during the quarter. Surevest Inc.’s holdings in People’s United Financial were worth $1,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PBCT. YHB Investment Advisors Inc. grew its position in People’s United Financial by 33.0% in the third quarter. YHB Investment Advisors Inc. now owns 22,222 shares of the bank’s stock worth $347,000 after buying an additional 5,520 shares during the last quarter. Pacer Advisors Inc. grew its position in People’s United Financial by 10.8% in the third quarter. Pacer Advisors Inc. now owns 39,469 shares of the bank’s stock worth $617,000 after buying an additional 3,845 shares during the last quarter. Wiley BROS. Aintree Capital LLC acquired a new position in People’s United Financial in the third quarter worth approximately $180,000. Butensky & Cohen Financial Security Inc. grew its position in People’s United Financial by 11.8% in the third quarter. Butensky & Cohen Financial Security Inc. now owns 158,925 shares of the bank’s stock worth $2,485,000 after buying an additional 16,795 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in People’s United Financial by 0.9% in the third quarter. Crossmark Global Holdings Inc. now owns 455,331 shares of the bank’s stock worth $7,119,000 after buying an additional 4,248 shares during the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Several research analysts have issued reports on the stock. BidaskClub lowered shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Friday. DA Davidson restated a “buy” rating on shares of People’s United Financial in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price objective on the stock. in a research report on Thursday, September 5th. Morgan Stanley lowered their price objective on shares of People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Zacks Investment Research upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.80.

In other People’s United Financial news, CAO Jeffrey Hoyt sold 14,263 shares of People’s United Financial stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $16.09, for a total transaction of $229,491.67. Following the completion of the sale, the chief accounting officer now owns 25,199 shares of the company’s stock, valued at approximately $405,451.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.40% of the company’s stock.

Shares of NASDAQ:PBCT traded up $0.25 during trading on Tuesday, reaching $15.88. 77,267 shares of the company traded hands, compared to its average volume of 3,395,663. The firm has a fifty day simple moving average of $15.29 and a 200 day simple moving average of $16.07. The firm has a market cap of $6.26 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 5.93 and a beta of 1.26. People’s United Financial, Inc. has a 1-year low of $13.66 and a 1-year high of $18.03. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, July 18th. The bank reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $454.40 million during the quarter, compared to analyst estimates of $448.83 million. People’s United Financial had a net margin of 23.51% and a return on equity of 8.21%. During the same quarter last year, the business posted $0.32 EPS. As a group, research analysts anticipate that People’s United Financial, Inc. will post 1.32 EPS for the current year.

People’s United Financial announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 18th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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