Geode Capital Management LLC lifted its holdings in shares of People's United Financial, Inc. (NASDAQ:PBCT) by 5.7% during the fourth quarter, Holdings Channel reports. The fund owned 4,114,715 shares of the bank’s stock after purchasing an additional 221,039 shares during the quarter. Geode Capital Management LLC’s holdings in People's United Financial were worth $76,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Community Bank N.A. purchased a new position in People's United Financial in the 4th quarter valued at $115,000. Aurora Investment Counsel purchased a new position in People's United Financial in the 4th quarter valued at $193,000. Tiedemann Wealth Management LLC purchased a new position in People's United Financial in the 3rd quarter valued at $199,000. Wellington Shields & Co. LLC purchased a new position in People's United Financial in the 4th quarter valued at $200,000. Finally, Candriam Luxembourg S.C.A. purchased a new position in People's United Financial in the 4th quarter valued at $208,000. Institutional investors and hedge funds own 76.23% of the company’s stock.

How to Become a New Pot Stock Millionaire

PBCT has been the topic of a number of analyst reports. BidaskClub upgraded shares of People's United Financial from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. 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 research report on Thursday, January 4th. ValuEngine upgraded shares of People's United Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 price objective on shares of People's United Financial in a research report on Tuesday, February 27th. Finally, Sandler O’Neill set a $21.00 price objective on shares of People's United Financial and gave the company a “hold” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $19.82.

In other People's United Financial news, Director Jerry Franklin sold 4,300 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $19.91, for a total transaction of $85,613.00. Following the sale, the director now directly owns 92,949 shares in the company, valued at approximately $1,850,614.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert E. Trautmann sold 30,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $19.86, for a total transaction of $595,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 75,127 shares of company stock worth $1,472,533 over the last 90 days. Insiders own 2.50% of the company’s stock.

Shares of People's United Financial, Inc. (NASDAQ:PBCT) opened at $20.05 on Wednesday. The company has a market cap of $6,980.42, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 7.88 and a beta of 0.87. People's United Financial, Inc. has a 1 year low of $15.97 and a 1 year high of $20.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were given a dividend of $0.1725 per share. The ex-dividend date was Wednesday, January 31st. This represents a $0.69 annualized dividend and a dividend yield of 3.44%. People's United Financial’s payout ratio is currently 71.13%.

COPYRIGHT VIOLATION WARNING: “Geode Capital Management LLC Increases Stake in People's United Financial, Inc. (PBCT)” was published by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.dailypolitical.com/2018/03/14/geode-capital-management-llc-increases-stake-in-peoples-united-financial-inc-pbct.html.

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.

Want to see what other hedge funds are holding PBCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for People's United Financial, Inc. (NASDAQ:PBCT).

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

Receive News & Ratings for People's United Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial and related companies with MarketBeat.com's FREE daily email newsletter.