People’s United Financial (NASDAQ:PBCT) Stock Rating Upgraded by ValuEngine
PBCT has been the subject of a number of other reports. Morgan Stanley dropped their price objective on People’s United Financial from $17.50 to $17.00 and set an equal weight rating for the company in a research note on Thursday, October 3rd. Stephens initiated coverage on People’s United Financial in a research note on Tuesday, October 29th. They set an equal weight rating and a $16.00 target price on the stock. Raymond James began coverage on People’s United Financial in a research note on Tuesday, November 26th. They set a market perform rating on the stock. DA Davidson reaffirmed a buy rating on shares of People’s United Financial in a research report on Wednesday, September 11th. Finally, BidaskClub lowered shares of People’s United Financial from a hold rating to a sell rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $17.00.
Shares of PBCT stock traded up $0.17 during trading hours on Tuesday, hitting $16.51. The company had a trading volume of 1,895,677 shares, compared to its average volume of 3,634,146. The company’s fifty day moving average is $16.53 and its 200 day moving average is $15.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.98. People’s United Financial has a fifty-two week low of $13.66 and a fifty-two week high of $18.03. The stock has a market capitalization of $6.51 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 6.12 and a beta of 1.26.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Wednesday, October 30th. People’s United Financial’s payout ratio is currently 54.20%.
In other People’s United Financial news, EVP William M. Sheedy sold 21,164 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $179.41, for a total transaction of $3,797,033.24. Also, VP Lee C. Powlus sold 8,821 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.35, for a total value of $144,223.35. Following the completion of the sale, the vice president now directly owns 125,220 shares in the company, valued at approximately $2,047,347. The disclosure for this sale can be found here. Over the last quarter, insiders sold 429,175 shares of company stock valued at $10,569,273. 2.40% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in People’s United Financial by 0.8% in the third quarter. State Street Corp now owns 45,389,130 shares of the bank’s stock valued at $709,659,000 after buying an additional 340,280 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of People’s United Financial by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 44,851,442 shares of the bank’s stock valued at $752,607,000 after buying an additional 466,473 shares in the last quarter. BlackRock Inc. grew its position in shares of 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 during the last quarter. Invesco Ltd. grew its position in shares of People’s United Financial by 10.5% in the 2nd quarter. Invesco Ltd. now owns 16,011,946 shares of the bank’s stock valued at $268,681,000 after buying an additional 1,515,333 shares during the last quarter. Finally, Northern Trust Corp raised its stake in People’s United Financial by 3.7% during the 2nd quarter. Northern Trust Corp now owns 4,643,944 shares of the bank’s stock worth $77,925,000 after acquiring an additional 166,410 shares in the last quarter. 75.83% of the stock is owned by institutional investors and hedge funds.
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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