People’s United Financial, Inc. (PBCT) Stake Lowered by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 3.9% during the 1st quarter, HoldingsChannel reports. The fund owned 245,700 shares of the bank’s stock after selling 10,000 shares during the quarter. Forsta AP Fonden’s holdings in People’s United Financial were worth $4,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Washington Trust Bank raised its position in People’s United Financial by 17.3% in the 1st quarter. Washington Trust Bank now owns 22,516 shares of the bank’s stock worth $370,000 after purchasing an additional 3,325 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of People’s United Financial by 63.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,405,128 shares of the bank’s stock valued at $24,055,000 after acquiring an additional 544,832 shares during the last quarter. Comerica Bank raised its position in shares of People’s United Financial by 12.9% during the 4th quarter. Comerica Bank now owns 174,321 shares of the bank’s stock valued at $2,937,000 after acquiring an additional 19,953 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in shares of People’s United Financial during the 4th quarter valued at $1,061,000. Finally, Polaris Capital Management LLC acquired a new position in shares of People’s United Financial in the 4th quarter valued at $1,028,000. 77.52% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Mark F. Herron sold 4,466 shares of People’s United Financial 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 sale 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 transaction of $231,566.74. The disclosure for this sale can be found here. Insiders have sold 162,885 shares of company stock valued at $2,898,495 in the last three months. 2.40% of the stock is owned by insiders.

Several brokerages have recently issued reports on PBCT. BidaskClub lowered shares of People’s United Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. ValuEngine lowered shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. FIG Partners lowered shares of People’s United Financial from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. People’s United Financial has an average rating of “Hold” and a consensus price target of $19.70.

People’s United Financial stock opened at $16.25 on Tuesday. People’s United Financial, Inc. has a twelve month low of $13.66 and a twelve month high of $19.37. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 5.88 and a beta of 1.17. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.39.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, April 18th. The bank reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. People’s United Financial had a net margin of 23.64% and a return on equity of 8.16%. The business 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 firm earned $1.30 earnings per share. As a group, equities analysts forecast that People’s United Financial, Inc. will post 1.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Tuesday, April 30th. 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 currently 54.20%.

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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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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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