People’s United Financial Inc. (NASDAQ:PBCT) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 40,615,532 shares, a drop of 4.4% from the October 31st total of 42,489,592 shares. Based on an average daily volume of 4,450,456 shares, the short-interest ratio is presently 9.1 days. Currently, 13.2% of the company’s stock are short sold.

A number of research firms recently issued reports on PBCT. Piper Jaffray Cos. lowered People’s United Financial from a “neutral” rating to an “underweight” rating and set a $14.50 target price for the company. in a report on Wednesday, November 16th. Deutsche Bank AG lifted their price target 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. Finally, Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. People’s United Financial presently has an average rating of “Hold” and a consensus target price of $15.14.

In related news, Director John K. Dwight sold 50,000 shares of People’s United Financial stock in a transaction on Friday, November 18th. The stock was sold at an average price of $18.21, for a total value of $910,500.00. Following the completion of the transaction, the director now directly owns 277,134 shares in the company, valued at $5,046,610.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jerry Franklin sold 194,415 shares of People’s United Financial stock in a transaction on Monday, November 14th. The shares were sold at an average price of $18.75, for a total value of $3,645,281.25. Following the completion of the transaction, the director now owns 290,734 shares of the company’s stock, valued at $5,451,262.50. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PBCT. Wells Fargo & Company MN increased its stake in shares of People’s United Financial by 41.9% in the third quarter. Wells Fargo & Company MN now owns 14,623,420 shares of the company’s stock valued at $231,343,000 after buying an additional 4,320,486 shares in the last quarter. Crawford Investment Counsel Inc. increased its stake in shares of People’s United Financial by 185.0% in the third quarter. Crawford Investment Counsel Inc. now owns 2,511,462 shares of the company’s stock valued at $39,731,000 after buying an additional 1,630,163 shares in the last quarter. Dimensional Fund Advisors LP increased 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 valued at $119,310,000 after buying an additional 1,430,635 shares in the last quarter. State Street Corp increased 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 valued at $544,426,000 after buying an additional 1,218,159 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of People’s United Financial during the second quarter valued at about $14,750,000. Hedge funds and other institutional investors own 79.76% of the company’s stock.

Shares of People’s United Financial (NASDAQ:PBCT) opened at 18.57 on Monday. The stock has a market capitalization of $5.65 billion, a P/E ratio of 20.41 and a beta of 0.74. People’s United Financial has a 12-month low of $13.62 and a 12-month high of $18.87. The stock has a 50 day moving average price of $16.81 and a 200 day moving average price of $15.81.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the 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 period in the prior year, the company posted $0.23 earnings per share. On average, equities analysts anticipate that People’s United Financial will post $0.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were issued a $0.17 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.68 annualized dividend and a yield of 3.66%. People’s United Financial’s dividend payout ratio is currently 74.73%.

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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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