Engineers Gate Manager LP reduced its position in shares of People's United Financial, Inc. (NASDAQ:PBCT) by 69.2% during the 4th quarter, HoldingsChannel reports. The fund owned 66,884 shares of the bank’s stock after selling 150,188 shares during the quarter. Engineers Gate Manager LP’s holdings in People's United Financial were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Bank of Hawaii acquired a new stake in shares of People's United Financial during the 3rd quarter valued at approximately $818,000. Advisor Group Inc. raised its position in shares of People's United Financial by 5.5% during the 3rd quarter. Advisor Group Inc. now owns 148,241 shares of the bank’s stock valued at $2,688,000 after acquiring an additional 7,712 shares in the last quarter. First National Trust Co. raised its position in shares of People's United Financial by 19.7% during the 3rd quarter. First National Trust Co. now owns 94,953 shares of the bank’s stock valued at $1,722,000 after acquiring an additional 15,598 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of People's United Financial by 10.2% during the 2nd quarter. Nationwide Fund Advisors now owns 141,430 shares of the bank’s stock valued at $2,498,000 after acquiring an additional 13,114 shares in the last quarter. Finally, Iberiabank Corp raised its position in shares of People's United Financial by 6.4% during the 3rd quarter. Iberiabank Corp now owns 285,985 shares of the bank’s stock valued at $5,188,000 after acquiring an additional 17,125 shares in the last quarter. 75.52% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP David K. Norton sold 108,194 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total value of $2,079,488.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R David Rosato sold 6,040 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.18, for a total value of $115,847.20. The disclosure for this sale can be found here. Insiders sold 402,362 shares of company stock worth $7,770,854 over the last ninety days. 2.70% of the stock is owned by corporate insiders.

PBCT has been the topic of several research reports. BidaskClub lowered People's United Financial from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Zacks Investment Research raised People's United Financial from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, November 1st. Barclays upped their price target on People's United Financial from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Sandler O’Neill set a $21.00 price target on People's United Financial and gave the company a “hold” rating in a research report on Thursday, January 18th. Finally, Piper Jaffray Companies reaffirmed a “sell” rating and issued a $17.00 target price on shares of People's United Financial in a research report on Sunday, October 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.25.

Shares of People's United Financial, Inc. (NASDAQ:PBCT) opened at $18.91 on Friday. People's United Financial, Inc. has a 52-week low of $15.97 and a 52-week high of $20.14. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6,426.43, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 7.27 and a beta of 0.87.

People's United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, January 18th. The bank reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. People's United Financial had a return on equity of 6.69% and a net margin of 20.37%. The firm had revenue of $379.60 million for the quarter, compared to analyst estimates of $392.70 million. During the same period last year, the company earned $0.25 earnings per share. equities analysts anticipate that People's United Financial, Inc. will post 1.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be given a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.65%. The ex-dividend date is Wednesday, January 31st. People's United Financial’s dividend payout ratio is presently 71.13%.

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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.

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

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