People’s United Financial, Inc. (NASDAQ:PBCT) announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01, Bloomberg Earnings reports. People’s United Financial had a return on equity of 6.28% and a net margin of 19.32%. The business had revenue of $373.90 million during the quarter, compared to the consensus estimate of $374.59 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. People’s United Financial’s revenue was up 11.2% compared to the same quarter last year.
Shares of People’s United Financial (PBCT) traded up 0.37% on Friday, hitting $18.92. The stock had a trading volume of 1,930,878 shares. People’s United Financial has a 12 month low of $15.97 and a 12 month high of $20.13. The stock has a market cap of $6.39 billion, a PE ratio of 21.16 and a beta of 0.84. The stock has a 50 day moving average of $17.88 and a 200-day moving average of $17.45.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. People’s United Financial’s dividend payout ratio is presently 75.83%.
Several brokerages recently issued reports on PBCT. BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Piper Jaffray Companies restated a “sell” rating and issued a $17.00 price objective on shares of People’s United Financial in a research note on Sunday, October 22nd. Keefe, Bruyette & Woods restated a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a research note on Friday, August 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.08.
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In related news, Director Janet M. Hansen sold 12,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total value of $205,680.00. Following the sale, the director now directly owns 145,707 shares in the company, valued at $2,497,417.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John P. Barnes sold 299,309 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.88, for a total value of $5,650,953.92. Following the completion of the sale, the chief executive officer now owns 383,140 shares in the company, valued at $7,233,683.20. The disclosure for this sale can be found here. Insiders sold 381,491 shares of company stock worth $7,173,247 over the last 90 days. Company insiders own 2.70% of the company’s stock.
People’s United Financial Company Profile
People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.
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