Shares of People’s United Financial, Inc. (NASDAQ:PBCT) have been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.00.
Several equities analysts have recently commented on PBCT shares. BidaskClub downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. ValuEngine downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th.
People’s United Financial stock traded down $0.53 during mid-day trading on Friday, hitting $14.06. The company’s stock had a trading volume of 3,065,833 shares, compared to its average volume of 4,733,192. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 5.49 and a beta of 1.21. The business has a 50 day moving average price of $15.82 and a 200-day moving average price of $16.56. People’s United Financial has a 12 month low of $13.66 and a 12 month high of $18.86.
People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $454.40 million during the quarter, compared to the consensus estimate of $448.83 million. People’s United Financial had a net margin of 23.51% and a return on equity of 8.21%. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, equities research analysts expect that People’s United Financial will post 1.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Wednesday, July 31st. People’s United Financial’s dividend payout ratio (DPR) is 54.20%.
People’s United Financial declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 18th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, CFO R David Rosato sold 39,250 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $16.20, for a total transaction of $635,850.00. Following the completion of the transaction, the chief financial officer now directly owns 137,952 shares of the company’s stock, valued at $2,234,822.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of People’s United Financial by 10.5% in the second quarter. Invesco Ltd. now owns 16,011,946 shares of the bank’s stock worth $268,681,000 after purchasing an additional 1,515,333 shares in the last quarter. JPMorgan Chase & Co. grew its stake in People’s United Financial by 175.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,306,033 shares of the bank’s stock worth $37,913,000 after buying an additional 1,470,283 shares during the last quarter. BlackRock Inc. grew its stake in People’s United Financial by 3.3% during the 1st quarter. BlackRock Inc. now owns 36,571,846 shares of the bank’s stock worth $601,242,000 after buying an additional 1,159,031 shares during the last quarter. Nuveen Asset Management LLC bought a new position in People’s United Financial during the 2nd quarter worth $17,994,000. Finally, Morgan Stanley grew its stake in People’s United Financial by 36.6% during the 2nd quarter. Morgan Stanley now owns 2,350,911 shares of the bank’s stock worth $39,448,000 after buying an additional 629,471 shares during the last quarter. 75.38% of the stock is owned by hedge funds and other institutional investors.
People’s United Financial Company 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.
See Also: What is Compound Interest?
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.