Cetera Advisors LLC Decreases Stake in People’s United Financial, Inc. (NASDAQ:PBCT)

Cetera Advisors LLC trimmed its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,273 shares of the bank’s stock after selling 781 shares during the period. Cetera Advisors LLC’s holdings in People’s United Financial were worth $222,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Prudential Financial Inc. grew its holdings in shares of People’s United Financial by 2.3% in the third quarter. Prudential Financial Inc. now owns 503,075 shares of the bank’s stock valued at $8,612,000 after purchasing an additional 11,250 shares during the period. Alliancebernstein L.P. lifted its position in People’s United Financial by 34.8% in the third quarter. Alliancebernstein L.P. now owns 742,421 shares of the bank’s stock valued at $12,710,000 after buying an additional 191,708 shares during the last quarter. BlackRock Inc. lifted its position in People’s United Financial by 0.3% in the third quarter. BlackRock Inc. now owns 32,317,685 shares of the bank’s stock valued at $553,280,000 after buying an additional 104,037 shares during the last quarter. American International Group Inc. lifted its position in People’s United Financial by 6.0% in the third quarter. American International Group Inc. now owns 148,275 shares of the bank’s stock valued at $2,538,000 after buying an additional 8,362 shares during the last quarter. Finally, FMR LLC lifted its position in People’s United Financial by 3.7% in the third quarter. FMR LLC now owns 111,180 shares of the bank’s stock valued at $1,903,000 after buying an additional 4,018 shares during the last quarter. 77.35% of the stock is owned by institutional investors.

A number of research firms have commented on PBCT. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. BidaskClub raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. FIG Partners cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of People’s United Financial in a research report on Thursday, January 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.70.

Shares of PBCT traded up $0.14 during mid-day trading on Friday, reaching $17.26. 2,704,200 shares of the company’s stock were exchanged, compared to its average volume of 3,755,393. People’s United Financial, Inc. has a 52-week low of $13.66 and a 52-week high of $19.37. The company has a current ratio of 0.94, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.48 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 6.22 and a beta of 1.16.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, April 18th. The bank reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. The company had revenue of $427.40 million during the quarter, compared to the consensus estimate of $432.11 million. During the same quarter last year, the company earned $1.30 earnings per share. As a group, equities research analysts forecast that People’s United Financial, Inc. will post 1.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.1775 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.11%. This is an increase from People’s United Financial’s previous quarterly dividend of $0.18. People’s United Financial’s dividend payout ratio (DPR) is 53.44%.

In other news, Director Jerry Franklin sold 4,800 shares of People’s United Financial stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.99, for a total transaction of $86,352.00. Following the completion of the transaction, the director now owns 93,317 shares of the company’s stock, valued at approximately $1,678,772.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Galan G. Daukas sold 13,534 shares of People’s United Financial stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $17.11, for a total value of $231,566.74. The disclosure for this sale can be found here. In the last three months, insiders sold 158,419 shares of company stock valued at $2,820,966. 2.40% of the stock is owned by corporate insiders.

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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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