$432.76 Million in Sales Expected for People’s United Financial, Inc. (PBCT) This Quarter

Brokerages forecast that People’s United Financial, Inc. (NASDAQ:PBCT) will announce sales of $432.76 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for People’s United Financial’s earnings, with estimates ranging from $430.10 million to $437.40 million. People’s United Financial reported sales of $386.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.1%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Thursday, April 18th.

According to Zacks, analysts expect that People’s United Financial will report full year sales of $1.81 billion for the current financial year, with estimates ranging from $1.78 billion to $1.84 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.91 billion, with estimates ranging from $1.87 billion to $1.97 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, January 17th. The bank reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The company had revenue of $428.20 million during the quarter, compared to analyst estimates of $432.25 million. People’s United Financial had a return on equity of 8.11% and a net margin of 24.34%. People’s United Financial’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS.

PBCT has been the topic of several recent research reports. BidaskClub upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Zacks Investment Research cut People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. ValuEngine cut People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Wells Fargo & Co restated a “hold” rating on shares of People’s United Financial in a report on Thursday, January 3rd. Finally, FIG Partners initiated coverage on People’s United Financial in a report on Thursday, December 20th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. People’s United Financial has a consensus rating of “Hold” and a consensus target price of $19.70.

In related news, Director Jerry Franklin sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.99, for a total value of $86,352.00. Following the transaction, the director now directly owns 93,317 shares in the company, valued at $1,678,772.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David P. Berey sold 129,431 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $17.90, for a total value of $2,316,814.90. Following the completion of the transaction, the executive vice president now owns 46,672 shares in the company, valued at $835,428.80. The disclosure for this sale can be found here. Insiders sold 165,219 shares of company stock worth $2,932,690 over the last quarter. 2.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new position in People’s United Financial during the fourth quarter worth $28,000. First Hawaiian Bank lifted its stake in People’s United Financial by 462.5% during the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock worth $29,000 after purchasing an additional 1,665 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in People’s United Financial during the fourth quarter worth $41,000. CSat Investment Advisory L.P. lifted its stake in People’s United Financial by 64.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock worth $41,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in People’s United Financial by 1,456.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 586,724 shares of the bank’s stock worth $41,000 after purchasing an additional 549,017 shares in the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.

Shares of People’s United Financial stock traded up $0.14 on Friday, hitting $16.58. 134,654 shares of the company were exchanged, compared to its average volume of 3,690,134. The stock has a market cap of $6.21 billion, a P/E ratio of 12.61, a P/E/G ratio of 5.89 and a beta of 1.17. People’s United Financial has a 1-year low of $13.66 and a 1-year high of $19.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96.

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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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