Comerica Bank boosted its stake in shares of People's United Financial, Inc. (NASDAQ:PBCT) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,599 shares of the company’s stock after buying an additional 621 shares during the period. Comerica Bank’s holdings in People's United Financial were worth $1,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. 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. BlackRock Fund Advisors increased its stake in shares of People's United Financial by 4.2% in the third quarter. BlackRock Fund Advisors now owns 9,785,005 shares of the company’s stock valued at $154,799,000 after buying an additional 391,770 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of People's United Financial by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 9,325,559 shares of the company’s stock valued at $147,530,000 after buying an additional 91,179 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of People's United Financial by 2.1% in the third quarter. Epoch Investment Partners Inc. now owns 8,568,134 shares of the company’s stock valued at $135,548,000 after buying an additional 174,192 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of People's United Financial by 6.3% in the third quarter. Bank of New York Mellon Corp now owns 7,119,344 shares of the company’s stock valued at $112,627,000 after buying an additional 423,478 shares in the last quarter. Hedge funds and other institutional investors own 80.80% of the company’s stock.

Institutional Ownership by Quarter for People's United Financial (NASDAQ:PBCT)

People's United Financial, Inc. (NASDAQ:PBCT) opened at 18.64 on Tuesday. People's United Financial, Inc. has a 1-year low of $13.80 and a 1-year high of $20.13. The firm’s 50-day moving average is $18.99 and its 200 day moving average is $17.91. The firm has a market cap of $5.76 billion, a PE ratio of 20.31 and a beta of 0.83.

People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, January 19th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. People's United Financial had a net margin of 19.12% and a return on equity of 5.86%. During the same period last year, the firm posted $0.22 EPS. On average, equities analysts forecast that People's United Financial, Inc. will post $0.96 earnings per share for the current fiscal year.

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Several analysts recently weighed in on PBCT shares. Wells Fargo & Co started coverage on shares of People's United Financial in a research report on Friday, January 6th. They issued a “market perform” rating on the stock. FBR & Co upgraded shares of People's United Financial from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $15.00 to $20.00 in a research report on Tuesday, December 20th. Sandler O’Neill downgraded shares of People's United Financial from a “hold” rating to a “sell” rating in a research report on Friday, December 2nd. Zacks Investment Research downgraded shares of People's United Financial from a “buy” rating to a “hold” rating in a research report on Friday, January 6th. Finally, Barclays PLC lifted their price objective on shares of People's United Financial from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, January 20th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. People's United Financial currently has an average rating of “Hold” and a consensus price target of $17.25.

In other People's United Financial news, VP David K. Norton sold 149,965 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $19.24, for a total value of $2,885,326.60. Following the sale, the vice president now owns 276,891 shares of the company’s stock, valued at approximately $5,327,382.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard M. Hoyt sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $18.89, for a total transaction of $1,889,000.00. Following the completion of the sale, the director now directly owns 62,882 shares in the company, valued at approximately $1,187,840.98. The disclosure for this sale can be found here. Insiders sold a total of 292,768 shares of company stock worth $5,590,175 in the last three months. Insiders own 2.90% of the company’s stock.

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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