People’s United Financial (PBCT) Sets New 52-Week Low at $15.50

People’s United Financial, Inc. (NASDAQ:PBCT)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $15.50 and last traded at $16.21, with a volume of 152004 shares traded. The stock had previously closed at $16.17.

Several equities analysts recently issued reports on the company. ValuEngine upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Morgan Stanley raised their price objective on People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 24th. BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Zacks Investment Research cut People’s United Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $21.50 price objective on shares of People’s United Financial in a research note on Monday, July 23rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.81.

The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 6.21 and a beta of 0.93.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a return on equity of 7.97% and a net margin of 23.98%. The firm had revenue of $398.70 million for the quarter, compared to analyst estimates of $404.65 million. During the same period last year, the company earned $0.26 earnings per share. As a group, research analysts predict that People’s United Financial, Inc. will post 1.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.36%. People’s United Financial’s dividend payout ratio is presently 67.31%.

In other People’s United Financial news, Director George P. Carter sold 10,874 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $18.70, for a total value of $203,343.80. Following the sale, the director now directly owns 13,758 shares of the company’s stock, valued at $257,274.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert E. Trautmann sold 75,404 shares of the stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $18.27, for a total value of $1,377,631.08. Following the completion of the sale, the vice president now directly owns 69,193 shares in the company, valued at $1,264,156.11. The disclosure for this sale can be found here. Insiders sold 155,454 shares of company stock worth $2,835,231 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Citizens Bank & Trust Co. increased its position in People’s United Financial by 25.7% in the third quarter. First Citizens Bank & Trust Co. now owns 154,025 shares of the bank’s stock worth $2,637,000 after buying an additional 31,455 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of People’s United Financial during the third quarter valued at $173,000. Canton Hathaway LLC acquired a new position in shares of People’s United Financial during the third quarter valued at $262,000. Bank of Montreal Can increased its holdings in shares of People’s United Financial by 37.2% during the third quarter. Bank of Montreal Can now owns 986,642 shares of the bank’s stock valued at $16,891,000 after purchasing an additional 267,665 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of People’s United Financial by 7.4% during the third quarter. State of Alaska Department of Revenue now owns 117,270 shares of the bank’s stock valued at $2,006,000 after purchasing an additional 8,066 shares during the period. 78.48% of the stock is currently owned by hedge funds and other institutional investors.

People’s United Financial Company Profile (NASDAQ:PBCT)

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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