People’s United Financial Inc. (NASDAQ:PBCT) was downgraded by research analysts at Piper Jaffray Cos. from a “neutral” rating to an “underweight” rating in a report released on Wednesday.

Several other research analysts have also weighed in on PBCT. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Deutsche Bank AG lifted their target price on People’s United Financial from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.07.

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

People’s United Financial (NASDAQ:PBCT) opened at 18.55 on Wednesday. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 20.38 and a beta of 0.74. People’s United Financial has a one year low of $13.62 and a one year high of $18.87. The stock’s 50 day moving average price is $16.28 and its 200-day moving average price is $15.66.

People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, October 20th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. People’s United Financial had a return on equity of 5.71% and a net margin of 19.26%. During the same quarter last year, the firm earned $0.23 EPS. Analysts forecast that People’s United Financial will post $0.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.67%. People’s United Financial’s dividend payout ratio (DPR) is 74.73%.

In other news, Director Jerry Franklin sold 194,415 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $18.75, for a total value of $3,645,281.25. Following the sale, the director now directly owns 290,734 shares in the company, valued at $5,451,262.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David K. Norton sold 153,792 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $18.55, for a total value of $2,852,841.60. Following the completion of the sale, the vice president now owns 227,897 shares in the company, valued at $4,227,489.35. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. DNB Asset Management AS raised its stake in shares of People’s United Financial by 12.0% in the second quarter. DNB Asset Management AS now owns 14,909 shares of the company’s stock worth $219,000 after buying an additional 1,600 shares during the period. British Columbia Investment Management Corp raised its stake in shares of People’s United Financial by 47.4% in the second quarter. British Columbia Investment Management Corp now owns 312,290 shares of the company’s stock worth $4,578,000 after buying an additional 100,460 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of People’s United Financial during the second quarter worth approximately $14,750,000. Cypress Capital Group purchased a new stake in shares of People’s United Financial during the first quarter worth approximately $1,108,000. Finally, Avalon Advisors LLC raised its stake in shares of People’s United Financial by 1.8% in the first quarter. Avalon Advisors LLC now owns 807,117 shares of the company’s stock worth $12,857,000 after buying an additional 14,179 shares during the period. Institutional investors own 79.26% of the company’s stock.

People’s United Financial Company Profile

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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