Epoch Investment Partners Inc. lowered its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,570,021 shares of the bank’s stock after selling 430,792 shares during the quarter. Epoch Investment Partners Inc. owned approximately 1.88% of People’s United Financial worth $112,479,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. FineMark National Bank & Trust acquired a new stake in People’s United Financial during the second quarter worth approximately $150,000. Citizens Financial Group Inc RI acquired a new position in shares of People’s United Financial in the 3rd quarter valued at $159,000. Argent Trust Co acquired a new position in shares of People’s United Financial in the 2nd quarter valued at $182,000. GHP Investment Advisors Inc. acquired a new position in shares of People’s United Financial in the 3rd quarter valued at $173,000. Finally, Warren Averett Asset Management LLC acquired a new position in shares of People’s United Financial in the 3rd quarter valued at $179,000. 73.67% of the stock is currently owned by institutional investors.
In related news, VP Lee C. Powlus sold 48,200 shares of People’s United Financial stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $17.97, for a total value of $866,154.00. Following the transaction, the vice president now directly owns 146,050 shares in the company, valued at approximately $2,624,518.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.50% of the company’s stock.
Shares of People’s United Financial stock opened at $16.31 on Thursday. The firm has a market capitalization of $6.15 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 6.33 and a beta of 0.96. People’s United Financial, Inc. has a 12 month low of $15.04 and a 12 month high of $20.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95.
People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. 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 firm posted $0.26 EPS. As a group, equities research analysts expect that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a $0.175 dividend. The ex-dividend date was Wednesday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.29%. People’s United Financial’s dividend payout ratio (DPR) is 67.31%.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, October 5th. Wells Fargo & Co set a $18.00 target price on shares of People’s United Financial and gave the company a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, September 24th. Finally, ValuEngine cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.21.
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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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