National Planning Corp continued to hold its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) during the second quarter, Holdings Channel reports. The institutional investor owned 47,032 shares of the bank’s stock at the end of the second quarter. National Planning Corp’s holdings in People’s United Financial were worth $846,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PBCT. Advisory Services Network LLC acquired a new stake in People’s United Financial during the first quarter worth $137,000. Mn Services Vermogensbeheer B.V. raised its stake in People’s United Financial by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,076 shares of the bank’s stock worth $137,000 after buying an additional 394 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in People’s United Financial by 19.2% in the first quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the bank’s stock worth $158,000 after buying an additional 1,400 shares during the last quarter. Macquarie Group Ltd. raised its stake in People’s United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock worth $189,000 after buying an additional 2,000 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in People’s United Financial by 9.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,771 shares of the bank’s stock worth $190,000 after buying an additional 968 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

People’s United Financial, Inc. (PBCT) opened at 16.82 on Friday. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 18.77 and a beta of 0.82. People’s United Financial, Inc. has a 52 week low of $15.28 and a 52 week high of $20.13. The stock’s 50 day moving average price is $17.57 and its 200 day moving average price is $17.91.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 4.10%. The ex-dividend date is Friday, July 28th. People’s United Financial’s payout ratio is 77.53%.

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A number of analysts have weighed in on the company. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 target price on shares of People’s United Financial in a research note on Friday, June 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $17.75 target price (up previously from $17.50) on shares of People’s United Financial in a research note on Friday, July 7th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. People’s United Financial presently has an average rating of “Hold” and an average price target of $18.25.

In related news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jerry Franklin sold 4,520 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total value of $75,574.40. Following the transaction, the director now directly owns 97,249 shares in the company, valued at approximately $1,626,003.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,115 shares of company stock worth $2,226,820. 2.70% of the stock is owned by corporate insiders.

People’s United Financial Company Profile

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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