People’s United Financial, Inc. (PBCT) Given Consensus Rating of “Hold” by Analysts
Shares of People’s United Financial, Inc. (NASDAQ:PBCT) have been assigned an average rating of “Hold” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.31.
Several research firms have issued reports on PBCT. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, September 5th. Jefferies Group LLC reissued a “hold” rating and set a $19.00 price target on shares of People’s United Financial in a report on Friday, August 18th. Piper Jaffray Companies set a $16.00 price target on People’s United Financial and gave the company a “sell” rating in a report on Thursday, August 17th. BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th.
In related news, insider Jeffrey Hoyt sold 6,759 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total value of $121,526.82. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. W. E. Donoghue & Co. LLC purchased a new stake in shares of People’s United Financial in the second quarter worth about $16,141,000. Intl Fcstone Inc. purchased a new stake in shares of People’s United Financial in the second quarter worth about $185,000. Sentry Investment Management LLC lifted its position in shares of People’s United Financial by 1.1% in the second quarter. Sentry Investment Management LLC now owns 23,768 shares of the bank’s stock worth $420,000 after buying an additional 256 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of People’s United Financial by 36.5% in the second quarter. Toronto Dominion Bank now owns 116,640 shares of the bank’s stock worth $2,060,000 after buying an additional 31,179 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of People’s United Financial by 3.0% in the second quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock worth $137,000 after buying an additional 226 shares in the last quarter. Institutional investors own 77.02% of the company’s stock.
Shares of People’s United Financial (PBCT) traded up 0.83% during mid-day trading on Friday, reaching $16.91. The company had a trading volume of 4,194,961 shares. The stock has a market capitalization of $5.71 billion, a P/E ratio of 18.91 and a beta of 0.82. The firm has a 50 day moving average of $16.91 and a 200-day moving average of $17.53. People’s United Financial has a one year low of $15.28 and a one year high of $20.13.
People’s United Financial (NASDAQ:PBCT) last released its quarterly 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 net margin of 18.88% and a return on equity of 6.14%. The company had revenue of $366.50 million for the quarter, compared to the consensus estimate of $357.16 million. During the same period in the prior year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts forecast that People’s United Financial will post $0.93 EPS for the current fiscal year.
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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