The Jefferies Group Comments on People’s United Financial Inc.’s Q1 2017 Earnings (PBCT)

The Jefferies Group Comments on People’s United Financial Inc.’s Q1 2017 Earnings (PBCT)

People’s United Financial Inc. (NASDAQ:PBCT) – Stock analysts at Jefferies Group issued their Q1 2017 earnings per share estimates for shares of People’s United Financial in a research report issued on Tuesday. Jefferies Group analyst C. Haire forecasts that the firm will earn $0.21 per share for the quarter. Jefferies Group also issued estimates for People’s United Financial’s Q2 2017 earnings at $0.23 EPS, Q3 2017 earnings at $0.24 EPS and Q4 2017 earnings at $0.25 EPS.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. People’s United Financial had a net margin of 19.13% and a return on equity of 5.60%.

A number of other research firms have also weighed in on PBCT. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 target price on shares of People’s United Financial in a report on Wednesday, June 29th. Deutsche Bank AG raised their target price on shares of People’s United Financial from $14.00 to $15.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Piper Jaffray Cos. raised shares of People’s United Financial from an “underweight” rating to a “neutral” rating and set a $14.00 target price for the company in a report on Wednesday, June 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.31.

Shares of People’s United Financial (NASDAQ:PBCT) traded up 0.97% on Thursday, reaching $15.56. 221,567 shares of the company’s stock traded hands. People’s United Financial has a 12-month low of $13.62 and a 12-month high of $16.93. The stock has a 50-day moving average of $15.89 and a 200 day moving average of $15.55. The firm has a market cap of $4.72 billion, a P/E ratio of 17.48 and a beta of 0.85.

In related news, VP David K. Norton sold 15,495 shares of People’s United Financial stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $16.05, for a total value of $248,694.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert E. Trautmann sold 47,707 shares of People’s United Financial stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $15.48, for a total value of $738,504.36. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PBCT. Renaissance Technologies LLC increased its stake in People’s United Financial by 18.7% in the first quarter. Renaissance Technologies LLC now owns 1,966,200 shares of the company’s stock valued at $31,322,000 after buying an additional 310,100 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in People’s United Financial during the second quarter valued at $558,000. Standard Life Investments LTD increased its stake in People’s United Financial by 1.0% in the second quarter. Standard Life Investments LTD now owns 2,278,474 shares of the company’s stock valued at $33,391,000 after buying an additional 23,618 shares during the last quarter. BB&T Securities LLC increased its stake in People’s United Financial by 224.4% in the second quarter. BB&T Securities LLC now owns 33,521 shares of the company’s stock valued at $491,000 after buying an additional 23,188 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in People’s United Financial during the second quarter valued at $3,184,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

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