The People’s United Financial Inc. (PBCT) Given Average Recommendation of “Hold” from Brokerages

The People’s United Financial Inc. (PBCT) Given Average Recommendation of “Hold” from Brokerages

Shares of People’s United Financial Inc. (NASDAQ:PBCT) have earned a consensus rating of “Hold” from the nine research firms that are covering the firm. Three investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.30.

A number of equities analysts have recently commented on PBCT shares. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Thursday. Piper Jaffray Cos. raised shares of People’s United Financial from an “underweight” rating to a “neutral” rating and set a $14.00 price objective on the stock in a research note on Wednesday, June 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 price objective on shares of People’s United Financial in a research note on Wednesday, June 29th. Finally, Deutsche Bank AG boosted their price objective on shares of People’s United Financial from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Tuesday.

In other People’s United Financial news, VP Robert E. Trautmann sold 186,123 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $15.38, for a total transaction of $2,862,571.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David K. Norton sold 15,495 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $16.05, for a total transaction of $248,694.75. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in People’s United Financial by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,138,714 shares of the company’s stock valued at $119,310,000 after buying an additional 1,430,635 shares in the last quarter. Bessemer Group Inc. raised its stake in People’s United Financial by 683.0% in the first quarter. Bessemer Group Inc. now owns 1,508,287 shares of the company’s stock valued at $24,027,000 after buying an additional 1,315,656 shares in the last quarter. State Street Corp raised its stake in People’s United Financial by 3.4% in the second quarter. State Street Corp now owns 37,136,980 shares of the company’s stock valued at $544,426,000 after buying an additional 1,218,159 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in People’s United Financial during the second quarter valued at approximately $14,750,000. Finally, Bank of Montreal Can acquired a new stake in People’s United Financial during the second quarter valued at approximately $12,405,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Shares of People’s United Financial (NASDAQ:PBCT) opened at 15.51 on Monday. 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 $15.88 and a 200-day moving average of $15.55. The firm has a market capitalization of $4.71 billion, a PE ratio of 17.43 and a beta of 0.85.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, July 21st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, equities research analysts anticipate that People’s United Financial will post $0.89 EPS for the current fiscal year.

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