TD Asset Management Inc. cut its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 11.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,063,853 shares of the bank’s stock after selling 381,532 shares during the period. TD Asset Management Inc.’s holdings in People’s United Financial were worth $54,108,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. FMR LLC boosted its stake in People’s United Financial by 1.3% in the fourth quarter. FMR LLC now owns 153,788 shares of the bank’s stock worth $2,977,000 after buying an additional 1,932 shares during the last quarter. Renaissance Technologies LLC boosted its stake in People’s United Financial by 218.7% in the fourth quarter. Renaissance Technologies LLC now owns 80,628 shares of the bank’s stock worth $1,561,000 after buying an additional 55,328 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in People’s United Financial by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,800 shares of the bank’s stock worth $209,000 after buying an additional 640 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in People’s United Financial by 1.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,212,912 shares of the bank’s stock worth $23,483,000 after buying an additional 12,395 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in People’s United Financial by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 373,474 shares of the bank’s stock worth $7,230,000 after buying an additional 21,354 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Shares of People’s United Financial, Inc. (NASDAQ:PBCT) opened at 17.46 on Wednesday. The company’s 50 day moving average is $17.61 and its 200-day moving average is $17.98. People’s United Financial, Inc. has a 52 week low of $15.27 and a 52 week high of $20.13. The company has a market capitalization of $5.89 billion, a PE ratio of 19.49 and a beta of 0.82.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, July 20th. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by $0.04. The business had revenue of $366.50 million for the quarter, compared to the consensus estimate of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. People’s United Financial’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. On average, analysts expect that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Friday, July 28th. People’s United Financial’s payout ratio is presently 77.53%.

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A number of equities research analysts have issued reports on PBCT shares. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a research note on Tuesday, May 9th. Morgan Stanley upgraded People’s United Financial from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $16.50 to $17.50 in a research note on Monday, June 5th. They noted that the move was a valuation call. BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research cut People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.25.

In other news, Director Jerry Franklin sold 4,520 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total transaction of $75,574.40. Following the sale, the director now owns 97,249 shares in the company, valued at $1,626,003.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert E. Trautmann sold 118,836 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $17.08, for a total value of $2,029,718.88. Following the sale, the vice president now owns 70,323 shares in the company, valued at approximately $1,201,116.84. The disclosure for this sale can be found here. Insiders have sold 130,115 shares of company stock worth $2,226,820 in the last 90 days. Company insiders own 2.70% of the company’s stock.

About People’s United Financial

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.

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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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