BlackRock Inc. boosted its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,944,835 shares of the bank’s stock after purchasing an additional 372,989 shares during the quarter. BlackRock Inc. owned about 0.09% of People’s United Financial worth $619,936,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. World Asset Management Inc raised its position in People’s United Financial by 2.0% during the 2nd quarter. World Asset Management Inc now owns 33,301 shares of the bank’s stock worth $559,000 after buying an additional 642 shares during the last quarter. New Mexico Educational Retirement Board raised its position in People’s United Financial by 2.2% during the 2nd quarter. New Mexico Educational Retirement Board now owns 32,188 shares of the bank’s stock worth $540,000 after buying an additional 700 shares during the last quarter. Zeke Capital Advisors LLC raised its position in People’s United Financial by 3.1% during the 2nd quarter. Zeke Capital Advisors LLC now owns 25,385 shares of the bank’s stock worth $426,000 after buying an additional 752 shares during the last quarter. JGP Wealth Management LLC raised its position in People’s United Financial by 1.6% during the 2nd quarter. JGP Wealth Management LLC now owns 58,536 shares of the bank’s stock worth $982,000 after buying an additional 908 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in People’s United Financial by 0.6% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 165,680 shares of the bank’s stock worth $2,780,000 after buying an additional 1,040 shares during the last quarter. Hedge funds and other institutional investors own 76.58% of the company’s stock.

A number of equities analysts have commented on PBCT shares. BidaskClub upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Zacks Investment Research cut shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Tuesday, October 29th. Morgan Stanley lowered their price target on shares of People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Stephens initiated coverage on shares of People’s United Financial in a research note on Tuesday, October 29th. They set an “equal weight” rating and a $16.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price target on the stock. in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.00.

In other news, CAO Jeffrey Hoyt sold 14,263 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $16.09, for a total transaction of $229,491.67. Following the transaction, the chief accounting officer now directly owns 25,199 shares in the company, valued at approximately $405,451.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO R David Rosato sold 8,427 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.08, for a total transaction of $143,933.16. Following the transaction, the chief financial officer now owns 107,223 shares in the company, valued at $1,831,368.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 329,665 shares of company stock worth $8,946,819. Insiders own 2.40% of the company’s stock.

NASDAQ:PBCT opened at $16.96 on Friday. The stock has a market cap of $6.76 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 6.31 and a beta of 1.26. People’s United Financial, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $18.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $16.06 and its 200-day simple moving average is $16.03.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $462.00 million for the quarter, compared to analyst estimates of $452.39 million. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Equities analysts anticipate that People’s United Financial, Inc. will post 1.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.177 per share. The ex-dividend date is Wednesday, October 30th. This represents a $0.71 annualized dividend and a dividend yield of 4.17%. People’s United Financial’s payout ratio is currently 54.20%.

People’s United Financial declared that its Board of Directors has authorized a stock buyback program on Thursday, July 18th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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

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