Twin Capital Management Inc. raised its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 93.1% in the second quarter, Holdings Channel reports. The fund owned 78,040 shares of the bank’s stock after acquiring an additional 37,630 shares during the quarter. Twin Capital Management Inc.’s holdings in People’s United Financial were worth $1,412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBCT. Wells Fargo & Company MN lifted its stake in shares of People’s United Financial by 2.6% in the first quarter. Wells Fargo & Company MN now owns 19,600,378 shares of the bank’s stock worth $365,743,000 after buying an additional 491,141 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in People’s United Financial during the first quarter worth $528,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in People’s United Financial by 1.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 999,351 shares of the bank’s stock worth $18,648,000 after acquiring an additional 9,618 shares during the period. DekaBank Deutsche Girozentrale increased its position in People’s United Financial by 22.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 42,838 shares of the bank’s stock worth $827,000 after acquiring an additional 7,743 shares during the period. Finally, Mackay Shields LLC bought a new position in People’s United Financial during the first quarter worth $2,090,000. Hedge funds and other institutional investors own 78.21% of the company’s stock.

Shares of People’s United Financial stock opened at $18.53 on Friday. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 7.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 0.98. People’s United Financial, Inc. has a 52-week low of $16.04 and a 52-week high of $20.26.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, July 19th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The firm had revenue of $396.10 million for the quarter, compared to analyst estimates of $395.57 million. People’s United Financial had a net margin of 23.24% and a return on equity of 7.57%. During the same quarter in the previous year, the firm posted $0.19 EPS. analysts expect that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.78%. The ex-dividend date was Tuesday, July 31st. People’s United Financial’s dividend payout ratio (DPR) is presently 67.31%.

In other news, insider Mark F. Herron sold 10,976 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $18.65, for a total value of $204,702.40. Following the sale, the insider now owns 31,242 shares of the company’s stock, valued at approximately $582,663.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert E. Trautmann sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $18.34, for a total transaction of $183,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,254 shares of company stock worth $1,969,077. 2.50% of the stock is owned by insiders.

Several brokerages have issued reports on PBCT. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.50 price target on shares of People’s United Financial in a report on Monday, July 23rd. ValuEngine raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Zacks Investment Research lowered shares of People’s United Financial from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Morgan Stanley boosted their price target on shares of People’s United Financial from $20.50 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.36.

People’s United Financial Profile

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in 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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