Shares of People’s United Financial, Inc. (NASDAQ:PBCT) have received a consensus rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $19.00.

Several brokerages recently weighed in on PBCT. ValuEngine cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. BidaskClub cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th.

In other People’s United Financial news, CFO R David Rosato sold 39,250 shares of People’s United Financial stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $16.20, for a total transaction of $635,850.00. Following the transaction, the chief financial officer now owns 137,952 shares of the company’s stock, valued at approximately $2,234,822.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of PBCT. Treasurer of the State of North Carolina grew its stake in People’s United Financial by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 201,273 shares of the bank’s stock valued at $3,377,000 after buying an additional 4,460 shares in the last quarter. Nomura Holdings Inc. purchased a new position in People’s United Financial in the 2nd quarter valued at approximately $1,083,000. BlackRock Inc. grew its stake in People’s United Financial by 1.0% in the 2nd quarter. BlackRock Inc. now owns 36,944,835 shares of the bank’s stock valued at $619,936,000 after buying an additional 372,989 shares in the last quarter. UBS Group AG grew its stake in People’s United Financial by 9.4% in the 2nd quarter. UBS Group AG now owns 1,405,019 shares of the bank’s stock valued at $23,576,000 after buying an additional 120,376 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in People’s United Financial in the 2nd quarter valued at approximately $81,000. 75.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PBCT stock traded down $0.53 on Friday, reaching $14.06. 3,065,833 shares of the company were exchanged, compared to its average volume of 4,733,192. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 5.49 and a beta of 1.21. The company has a 50-day moving average of $15.82 and a 200-day moving average of $16.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96. People’s United Financial has a one year low of $13.66 and a one year high of $18.86.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. People’s United Financial had a net margin of 23.51% and a return on equity of 8.21%. The company had revenue of $454.40 million for the quarter, compared to analysts’ expectations of $448.83 million. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, sell-side analysts predict that People’s United Financial will post 1.33 EPS for the current year.

People’s United Financial declared that its board has approved a stock buyback program on Thursday, July 18th that permits the company to buyback 20,000,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.1775 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.71 annualized dividend and a dividend yield of 5.05%. People’s United Financial’s dividend payout ratio is currently 54.20%.

About People’s United Financial

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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