People’s United Financial (NASDAQ:PBCT) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of People’s United Financial (NASDAQ:PBCT) from a sell rating to a hold rating in a research note released on Saturday, BidAskClub reports.

Several other research firms have also commented on PBCT. Keefe, Bruyette & Woods lowered shares of People’s United Financial from an outperform rating to a market perform rating and set a $16.00 price objective for the company. in a research report on Thursday, September 5th. DA Davidson restated a buy rating on shares of People’s United Financial in a report on Wednesday, September 11th. Zacks Investment Research cut shares of People’s United Financial from a buy rating to a hold rating and set a $18.00 target price on the stock. in a research report on Tuesday, October 29th. Stephens started coverage on shares of People’s United Financial in a report on Tuesday, October 29th. They issued an equal weight rating and a $16.00 price target for the company. Finally, ValuEngine raised shares of People’s United Financial from a sell rating to a hold rating in a report on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $17.00.

NASDAQ:PBCT opened at $16.51 on Friday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 6.06 and a beta of 1.26. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $18.03. The stock’s 50 day simple moving average is $16.55 and its two-hundred day simple moving average is $15.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.98.

People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. People’s United Financial had a return on equity of 8.17% and a net margin of 23.32%. The firm had revenue of $462.00 million during the quarter, compared to the consensus estimate of $452.39 million. During the same period in the prior year, the company earned $0.33 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that People’s United Financial will post 1.35 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.177 per share. The ex-dividend date was Wednesday, October 30th. This represents a $0.71 annualized dividend and a yield of 4.29%. People’s United Financial’s payout ratio is presently 54.20%.

In other People’s United Financial news, CAO Jeffrey Hoyt sold 14,263 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $16.09, for a total transaction of $229,491.67. Following the completion of the transaction, the chief accounting officer now owns 25,199 shares in the company, valued at $405,451.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO R David Rosato sold 8,427 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.08, for a total value of $143,933.16. Following the transaction, the chief financial officer now owns 107,223 shares of the company’s stock, valued at approximately $1,831,368.84. The disclosure for this sale can be found here. In the last three months, insiders sold 429,175 shares of company stock worth $10,569,273. Insiders own 2.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in People’s United Financial by 10.8% in the first quarter. FMR LLC now owns 138,970 shares of the bank’s stock worth $2,285,000 after purchasing an additional 13,596 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of People’s United Financial by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 75,007 shares of the bank’s stock valued at $1,259,000 after purchasing an additional 2,498 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of People’s United Financial by 9.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 36,084 shares of the bank’s stock valued at $605,000 after purchasing an additional 3,072 shares in the last quarter. Creative Planning lifted its position in shares of People’s United Financial by 15.1% in the 2nd quarter. Creative Planning now owns 82,897 shares of the bank’s stock worth $1,391,000 after purchasing an additional 10,846 shares during the period. Finally, Advisor Partners LLC lifted its position in shares of People’s United Financial by 9.8% in the 2nd quarter. Advisor Partners LLC now owns 17,628 shares of the bank’s stock worth $296,000 after purchasing an additional 1,567 shares during the period. 75.83% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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