Schwab Charles Investment Management Inc. grew its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,548,127 shares of the bank’s stock after acquiring an additional 146,025 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.46% of People’s United Financial worth $27,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in People’s United Financial by 19.2% during the first quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the bank’s stock worth $158,000 after acquiring an additional 1,400 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in People’s United Financial by 9.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 10,771 shares of the bank’s stock worth $190,000 after acquiring an additional 968 shares in the last quarter. US Bancorp DE raised its stake in People’s United Financial by 3.2% during the second quarter. US Bancorp DE now owns 11,061 shares of the bank’s stock worth $195,000 after acquiring an additional 344 shares in the last quarter. OppenheimerFunds Inc. acquired a new position in People’s United Financial during the first quarter worth about $208,000. Finally, Thrivent Financial For Lutherans raised its stake in People’s United Financial by 16.5% during the first quarter. Thrivent Financial For Lutherans now owns 12,580 shares of the bank’s stock worth $229,000 after acquiring an additional 1,780 shares in the last quarter. 77.02% of the stock is owned by hedge funds and other institutional investors.

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Several research analysts have commented on PBCT shares. Morgan Stanley reissued an “equal weight” rating and set 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. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, September 5th. BidaskClub downgraded People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and set a $19.00 target price on shares of People’s United Financial in a research note on Friday, August 18th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. People’s United Financial has an average rating of “Hold” and an average target price of $18.38.

Shares of People’s United Financial, Inc. (NASDAQ:PBCT) opened at 16.76 on Friday. The company has a market capitalization of $5.66 billion, a PE ratio of 18.75 and a beta of 0.82. The company has a 50-day moving average price of $16.94 and a 200 day moving average price of $17.55. People’s United Financial, Inc. has a one year low of $15.28 and a one year high of $20.13.

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 the 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 company had revenue of $366.50 million for the quarter, compared to the consensus estimate of $357.16 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. People’s United Financial’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that People’s United Financial, Inc. will post $0.93 EPS for the current year.

In related news, insider Jeffrey Hoyt sold 6,759 shares of the firm’s 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 document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.

People’s United Financial 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.

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

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