People’s United Financial, Inc. (NASDAQ:PBCT) was the target of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 40,995,589 shares, a drop of 4.0% from the December 15th total of 42,701,616 shares. Based on an average daily trading volume, of 3,297,376 shares, the short-interest ratio is presently 12.4 days. Currently, 13.3% of the company’s shares are sold short.

In related news, VP Robert E. Trautmann sold 10,000 shares of People’s United Financial stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $16.12, for a total transaction of $161,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David K. Norton sold 43,745 shares of People’s United Financial stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $19.34, for a total transaction of $846,028.30. Following the sale, the vice president now owns 170,584 shares in the company, valued at $3,299,094.56. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Chase Investment Counsel Corp raised its stake in shares of People’s United Financial by 7.6% in the second quarter. Chase Investment Counsel Corp now owns 19,350 shares of the company’s stock valued at $283,000 after buying an additional 1,375 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of People’s United Financial by 22.2% in the second quarter. Alps Advisors Inc. now owns 1,674,800 shares of the company’s stock valued at $24,553,000 after buying an additional 304,466 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of People’s United Financial by 6.6% in the second quarter. GW&K Investment Management LLC now owns 1,199,483 shares of the company’s stock valued at $17,584,000 after buying an additional 74,038 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in shares of People’s United Financial during the second quarter valued at about $558,000. Finally, Retirement Systems of Alabama raised its stake in shares of People’s United Financial by 0.9% in the second quarter. Retirement Systems of Alabama now owns 158,482 shares of the company’s stock valued at $2,323,000 after buying an additional 1,340 shares in the last quarter. Institutional investors own 79.85% of the company’s stock.

Shares of People’s United Financial (NASDAQ:PBCT) opened at 19.66 on Friday. People’s United Financial has a 1-year low of $13.62 and a 1-year high of $20.13. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 21.60 and a beta of 0.80. The stock has a 50 day moving average of $19.14 and a 200 day moving average of $16.57.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. People’s United Financial had a net margin of 19.26% and a return on equity of 5.71%. During the same period in the previous year, the business earned $0.23 EPS. Analysts predict that People’s United Financial will post $0.91 EPS for the current year.

Several equities research analysts recently commented on the stock. Deutsche Bank AG lifted their target price on shares of People’s United Financial from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, October 11th. Piper Jaffray Companies downgraded shares of People’s United Financial from a “neutral” rating to an “underweight” rating and set a $14.50 target price on the stock. in a research report on Wednesday, November 16th. Stephens began coverage on shares of People’s United Financial in a report on Wednesday, December 21st. They set an “equal weight” rating for the company. J P Morgan Chase & Co began coverage on shares of People’s United Financial in a report on Thursday, January 5th. They set a “neutral” rating and a $20.50 price target for the company. Finally, Zacks Investment Research upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company has an average rating of “Hold” and an average price target of $16.36.

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People’s United Financial Company Profile

People’s United Financial, Inc (People’s United) is the bank holding company for People’s United Bank, National Association (the Bank). The principal business of the Company is to provide, through the Bank and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers.

5 Day Chart for NASDAQ:PBCT

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