AlphaCrest Capital Management LLC lowered its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 31.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,242 shares of the bank’s stock after selling 9,558 shares during the period. AlphaCrest Capital Management LLC’s holdings in People’s United Financial were worth $349,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PBCT. Oppenheimer Asset Management Inc. bought a new stake in shares of People’s United Financial during the 4th quarter valued at $28,000. CSat Investment Advisory L.P. boosted its holdings in shares of People’s United Financial by 64.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock valued at $41,000 after buying an additional 1,106 shares in the last quarter. Huntington National Bank bought a new stake in shares of People’s United Financial during the 1st quarter valued at $47,000. Parallel Advisors LLC boosted its holdings in shares of People’s United Financial by 125.9% during the 1st quarter. Parallel Advisors LLC now owns 2,955 shares of the bank’s stock valued at $49,000 after buying an additional 1,647 shares in the last quarter. Finally, JOYN Advisors Inc. boosted its holdings in shares of People’s United Financial by 1,858.3% during the 4th quarter. JOYN Advisors Inc. now owns 3,055 shares of the bank’s stock valued at $44,000 after buying an additional 2,899 shares in the last quarter. Institutional investors and hedge funds own 75.85% of the company’s stock.
PBCT opened at $16.24 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $6.48 billion, a PE ratio of 12.40, a P/E/G ratio of 5.93 and a beta of 1.21. People’s United Financial, Inc. has a 1 year low of $13.66 and a 1 year high of $19.03.
People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $427.40 million during the quarter, compared to analyst estimates of $432.11 million. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. During the same quarter in the previous year, the firm earned $1.30 EPS. Sell-side analysts forecast that People’s United Financial, Inc. will post 1.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.1775 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Tuesday, April 30th. This is a positive change from People’s United Financial’s previous quarterly dividend of $0.18. People’s United Financial’s payout ratio is currently 54.20%.
PBCT has been the topic of a number of research reports. BidaskClub upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. ValuEngine upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, FIG Partners cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.70.
In other news, insider Mark F. Herron sold 4,466 shares of People’s United Financial stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.36, for a total value of $77,529.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by insiders.
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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.
Further Reading: Reverse Stock Split
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