People’s United Financial, Inc. (PBCT) Holdings Increased by Millennium Management LLC

Millennium Management LLC raised its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 83.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,855,971 shares of the bank’s stock after purchasing an additional 843,918 shares during the quarter. Millennium Management LLC owned 0.53% of People’s United Financial worth $34,632,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PBCT. BlackRock Inc. raised its stake in People’s United Financial by 18.5% during the 1st quarter. BlackRock Inc. now owns 32,023,332 shares of the bank’s stock valued at $597,556,000 after purchasing an additional 4,995,687 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of People’s United Financial by 17.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,834,322 shares of the bank’s stock worth $90,402,000 after acquiring an additional 704,522 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of People’s United Financial by 81.8% in the first quarter. JPMorgan Chase & Co. now owns 1,502,177 shares of the bank’s stock worth $28,031,000 after acquiring an additional 675,946 shares during the last quarter. Eaton Vance Management acquired a new position in shares of People’s United Financial in the first quarter worth $9,496,000. Finally, Wells Fargo & Company MN increased its stake in shares of People’s United Financial by 2.6% in the first quarter. Wells Fargo & Company MN now owns 19,600,378 shares of the bank’s stock worth $365,743,000 after acquiring an additional 491,141 shares during the last quarter. 77.05% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of People’s United Financial from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a research note on Tuesday, June 19th. Zacks Investment Research downgraded shares of People’s United Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. BidaskClub downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 10th. Morgan Stanley dropped their price target on shares of People’s United Financial from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Friday, April 20th. Finally, Piper Jaffray Companies raised shares of People’s United Financial from an “underweight” rating to a “neutral” rating in a research note on Friday, April 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.38.

In related news, Director Mark W. Richards sold 4,000 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $18.71, for a total value of $74,840.00. Following the completion of the sale, the director now directly owns 13,758 shares in the company, valued at $257,412.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara M. Longobardi sold 73,324 shares of the company’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $18.33, for a total transaction of $1,344,028.92. Following the completion of the sale, the insider now owns 134,525 shares of the company’s stock, valued at $2,465,843.25. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Shares of NASDAQ:PBCT opened at $18.48 on Tuesday. The firm has a market capitalization of $6.45 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 7.21 and a beta of 0.87. People’s United Financial, Inc. has a 1 year low of $15.97 and a 1 year high of $20.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.96 and a quick ratio of 0.96.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, April 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. The firm had revenue of $386.20 million during the quarter, compared to analysts’ expectations of $398.69 million. People’s United Financial had a net margin of 21.64% and a return on equity of 7.16%. People’s United Financial’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. equities analysts anticipate that People’s United Financial, Inc. will post 1.29 EPS for the current year.

People’s United Financial 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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