Keybank National Association OH lowered its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,813 shares of the bank’s stock after selling 480 shares during the quarter. Keybank National Association OH’s holdings in People’s United Financial were worth $262,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Benedict Financial Advisors Inc. grew its holdings in People’s United Financial by 0.3% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 15,537 shares of the bank’s stock worth $272,000 after acquiring an additional 47 shares during the last quarter. Federated Investors Inc. PA grew its holdings in People’s United Financial by 0.8% during the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock worth $171,000 after acquiring an additional 80 shares during the last quarter. ING Groep NV grew its holdings in People’s United Financial by 0.5% during the 2nd quarter. ING Groep NV now owns 17,637 shares of the bank’s stock worth $311,000 after acquiring an additional 94 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in People’s United Financial by 0.8% during the 2nd quarter. Contravisory Investment Management Inc. now owns 13,274 shares of the bank’s stock worth $234,000 after acquiring an additional 104 shares during the last quarter. Finally, Bingham Osborn & Scarborough LLC grew its holdings in People’s United Financial by 1.2% during the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 10,982 shares of the bank’s stock worth $194,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.

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PBCT has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, September 5th. Morgan Stanley raised shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $16.50 to $17.50 in a report on Monday, June 5th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “hold” rating on shares of People’s United Financial in a report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a report on Friday, August 18th. Finally, BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.38.

People’s United Financial, Inc. (PBCT) opened at 16.76 on Friday. People’s United Financial, Inc. has a 1-year low of $15.28 and a 1-year high of $20.13. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 18.75 and a beta of 0.82. The company’s 50-day moving average is $16.94 and its 200 day moving average is $17.55.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, equities analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

In other People’s United Financial news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

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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