People’s United Financial Inc. (NASDAQ:PBCT) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 35,879,211 shares, a decrease of 5.8% from the September 15th total of 38,097,218 shares. Based on an average daily volume of 2,843,011 shares, the short-interest ratio is currently 12.6 days. Approximately 11.6% of the company’s stock are sold short.

People’s United Financial (NASDAQ:PBCT) opened at 15.64 on Wednesday. The stock’s 50 day moving average price is $15.86 and its 200-day moving average price is $15.53. People’s United Financial has a one year low of $13.62 and a one year high of $16.93. The company has a market capitalization of $4.75 billion, a P/E ratio of 17.57 and a beta of 0.85.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. People’s United Financial had a return on equity of 5.60% and a net margin of 19.13%. Equities analysts forecast that People’s United Financial will post $0.89 EPS for the current year.

In other news, VP David K. Norton sold 15,495 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $16.05, for a total value of $248,694.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert E. Trautmann sold 47,707 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $15.48, for a total value of $738,504.36. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of People’s United Financial by 3.4% in the second quarter. State Street Corp now owns 37,136,980 shares of the company’s stock worth $544,426,000 after buying an additional 1,218,159 shares during the period. Vanguard Group Inc. raised its stake in shares of People’s United Financial by 1.5% in the second quarter. Vanguard Group Inc. now owns 28,231,431 shares of the company’s stock worth $413,873,000 after buying an additional 404,086 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of People’s United Financial by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,269,001 shares of the company’s stock worth $147,655,000 after buying an additional 190,852 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of People’s United Financial by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,138,714 shares of the company’s stock worth $119,310,000 after buying an additional 1,430,635 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of People’s United Financial by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 6,695,866 shares of the company’s stock worth $98,162,000 after buying an additional 67,229 shares during the period. 77.30% of the stock is owned by institutional investors and hedge funds.

PBCT has been the topic of a number of recent research reports. Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Deutsche Bank AG increased their target price on People’s United Financial from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, October 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $16.00 target price on shares of People’s United Financial in a research note on Wednesday, June 29th. Finally, Piper Jaffray Cos. raised People’s United Financial from an “underweight” rating to a “neutral” rating and set a $14.00 target price on the stock in a research note on Wednesday, June 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $15.31.

About People’s United Financial

People’s United Financial, Inc (People’s United) is the bank holding company for People’s United Bank, National Association (the Bank). The principal business of the Company is to provide, through the Bank and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers.

5 Day Chart for NASDAQ:PBCT

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