People’s United Financial, Inc. (NASDAQ:PBCT) has been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.09.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday, November 1st. Piper Jaffray Companies reiterated a “sell” rating and issued a $17.00 price objective on shares of People’s United Financial in a report on Sunday, October 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a report on Friday, August 18th.

In other news, CEO John P. Barnes sold 299,309 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.88, for a total value of $5,650,953.92. Following the completion of the sale, the chief executive officer now owns 383,140 shares of the company’s stock, valued at approximately $7,233,683.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet M. Hansen sold 12,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the sale, the director now directly owns 145,707 shares of the company’s stock, valued at approximately $2,497,417.98. The disclosure for this sale can be found here. Insiders sold a total of 381,491 shares of company stock valued at $7,173,247 in the last three months. Insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crawford Investment Counsel Inc. increased its position in shares of People’s United Financial by 7.8% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 2,882,016 shares of the bank’s stock worth $50,896,000 after purchasing an additional 207,716 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of People’s United Financial by 7.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,083,768 shares of the bank’s stock worth $19,139,000 after purchasing an additional 72,489 shares during the last quarter. Capital Advisors Inc. OK increased its position in shares of People’s United Financial by 4.3% in the 2nd quarter. Capital Advisors Inc. OK now owns 694,082 shares of the bank’s stock worth $12,257,000 after purchasing an additional 28,878 shares during the last quarter. Bank of Montreal Can grew its position in shares of People’s United Financial by 20.1% during the 2nd quarter. Bank of Montreal Can now owns 1,092,161 shares of the bank’s stock valued at $19,287,000 after buying an additional 183,129 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of People’s United Financial by 15.2% during the 2nd quarter. Victory Capital Management Inc. now owns 388,082 shares of the bank’s stock valued at $6,854,000 after buying an additional 51,254 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Shares of People’s United Financial (NASDAQ:PBCT) traded down $0.05 during mid-day trading on Friday, reaching $17.71. 2,063,926 shares of the company’s stock were exchanged, compared to its average volume of 2,937,847. People’s United Financial has a 52-week low of $15.97 and a 52-week high of $20.13. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $6,130.00, a price-to-earnings ratio of 18.70, a P/E/G ratio of 9.12 and a beta of 0.85.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. People’s United Financial had a net margin of 19.32% and a return on equity of 6.28%. The firm had revenue of $373.90 million for the quarter, compared to analyst estimates of $374.59 million. During the same quarter in the previous year, the business posted $0.24 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. research analysts predict that People’s United Financial will post 0.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Tuesday, October 31st. People’s United Financial’s payout ratio is currently 75.82%.

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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.

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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