People’s United Financial (PBCT) Downgraded by ValuEngine

ValuEngine cut shares of People’s United Financial (NASDAQ:PBCT) from a hold rating to a sell rating in a research report released on Wednesday, ValuEngine reports.

PBCT has been the subject of a number of other reports. BidaskClub raised shares of People’s United Financial from a sell rating to a hold rating in a research note on Saturday, January 19th. Zacks Investment Research lowered shares of People’s United Financial from a hold rating to a sell rating in a research note on Wednesday, March 20th. Barclays reissued a hold rating and set a $19.00 target price on shares of People’s United Financial in a research note on Sunday, January 20th. Finally, FIG Partners lowered shares of People’s United Financial from an outperform rating to a market perform rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $19.70.

NASDAQ PBCT traded down $0.08 on Wednesday, hitting $16.19. 2,879,467 shares of the stock were exchanged, compared to its average volume of 2,980,451. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 5.91 and a beta of 1.17. People’s United Financial has a 52-week low of $13.66 and a 52-week high of $19.37.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $427.40 million during the quarter, compared to analyst estimates of $432.11 million. People’s United Financial had a net margin of 23.64% and a return on equity of 8.16%. During the same period in the previous year, the firm earned $1.30 earnings per share. Equities research analysts anticipate that People’s United Financial will post 1.38 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.1775 per share. This is a positive change from People’s United Financial’s previous quarterly dividend of $0.18. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Tuesday, April 30th. People’s United Financial’s payout ratio is currently 54.20%.

In other news, EVP David P. Berey sold 129,431 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $17.90, for a total transaction of $2,316,814.90. Following the completion of the sale, the executive vice president now directly owns 46,672 shares of the company’s stock, valued at $835,428.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark F. Herron sold 4,466 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.36, for a total transaction of $77,529.76. The disclosure for this sale can be found here. Insiders have sold 162,885 shares of company stock valued at $2,898,495 over the last three months. Insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Texas Permanent School Fund lifted its stake in People’s United Financial by 0.8% in the first quarter. Texas Permanent School Fund now owns 76,496 shares of the bank’s stock worth $1,258,000 after acquiring an additional 577 shares during the period. TrinityPoint Wealth LLC lifted its stake in People’s United Financial by 3.1% in the first quarter. TrinityPoint Wealth LLC now owns 20,111 shares of the bank’s stock worth $331,000 after acquiring an additional 606 shares during the period. Advisor Partners LLC lifted its stake in People’s United Financial by 4.9% in the fourth quarter. Advisor Partners LLC now owns 12,996 shares of the bank’s stock worth $188,000 after acquiring an additional 608 shares during the period. World Asset Management Inc lifted its stake in People’s United Financial by 3.1% in the fourth quarter. World Asset Management Inc now owns 21,873 shares of the bank’s stock worth $316,000 after acquiring an additional 651 shares during the period. Finally, ETF Managers Group LLC lifted its stake in People’s United Financial by 9.3% in the first quarter. ETF Managers Group LLC now owns 7,834 shares of the bank’s stock worth $129,000 after acquiring an additional 669 shares during the period. 77.52% 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.

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Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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