People’s United Financial Inc. (NASDAQ:PBCT) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 42,489,592 shares, a growth of 20.4% from the October 14th total of 35,277,736 shares. Currently, 13.8% of the shares of the company are short sold. Based on an average trading volume of 3,828,819 shares, the short-interest ratio is presently 11.1 days.

PBCT has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Deutsche Bank AG lifted their price target on shares of People’s United Financial from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Tuesday, October 11th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.07.

In other People’s United Financial news, VP Robert E. Trautmann sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $16.12, for a total transaction of $161,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David K. Norton sold 15,495 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $16.05, for a total transaction of $248,694.75. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its position in People’s United Financial by 1.3% in the first quarter. Canada Pension Plan Investment Board now owns 7,600 shares of the company’s stock worth $121,000 after buying an additional 100 shares in the last quarter. BB&T Securities LLC bought a new position in People’s United Financial during the first quarter worth $164,000. Geode Capital Management LLC increased its position in People’s United Financial by 0.8% in the first quarter. Geode Capital Management LLC now owns 2,698,824 shares of the company’s stock worth $42,911,000 after buying an additional 20,841 shares in the last quarter. Hancock Holding Co. increased its position in People’s United Financial by 4.6% in the first quarter. Hancock Holding Co. now owns 47,540 shares of the company’s stock worth $757,000 after buying an additional 2,084 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in People’s United Financial by 18.7% in the first quarter. Renaissance Technologies LLC now owns 1,966,200 shares of the company’s stock worth $31,322,000 after buying an additional 310,100 shares in the last quarter. 77.45% of the stock is owned by hedge funds and other institutional investors.

People’s United Financial (NASDAQ:PBCT) opened at 17.94 on Friday. The company has a 50-day moving average of $16.05 and a 200-day moving average of $15.60. People’s United Financial has a 52 week low of $13.62 and a 52 week high of $18.43. The company has a market capitalization of $5.45 billion, a PE ratio of 19.69 and a beta of 0.74.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. People’s United Financial had a net margin of 19.26% and a return on equity of 5.71%. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts anticipate that People’s United Financial will post $0.91 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, October 28th. People’s United Financial’s dividend payout ratio is currently 74.73%.

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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