People’s United Financial (NASDAQ:PBCT) Announces Quarterly Earnings Results

People’s United Financial (NASDAQ:PBCT) posted its earnings results on Wednesday. The bank reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03, MarketWatch Earnings reports. People’s United Financial had a return on equity of 7.30% and a net margin of 21.57%. During the same period in the prior year, the firm earned $0.37 earnings per share.

NASDAQ PBCT opened at $14.04 on Friday. The business has a 50 day simple moving average of $13.42 and a 200 day simple moving average of $11.73. People’s United Financial has a one year low of $9.37 and a one year high of $16.37. The stock has a market capitalization of $5.97 billion, a P/E ratio of 12.10 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

Several equities analysts have commented on the company. Morgan Stanley increased their target price on People’s United Financial from $14.50 to $15.50 and gave the company an “equal weight” rating in a research report on Thursday, January 7th. Jefferies Financial Group upgraded People’s United Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, January 7th. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a research report on Tuesday, December 22nd. TheStreet upgraded People’s United Financial from a “c+” rating to a “b-” rating in a research report on Wednesday, December 2nd. Finally, Seaport Global Securities began coverage on People’s United Financial in a research report on Thursday, December 17th. They set a “buy” rating and a $15.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. People’s United Financial currently has a consensus rating of “Hold” and an average target price of $13.39.

In related news, EVP Kirk W. Walters sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $14.43, for a total transaction of $360,750.00. Following the completion of the sale, the executive vice president now owns 52,525 shares of the company’s stock, valued at $757,935.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

People’s United Financial Company Profile

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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Earnings History for People`s United Financial (NASDAQ:PBCT)

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