Fiduciary Trust Co. grew its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 24.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,030 shares of the bank’s stock after purchasing an additional 4,097 shares during the quarter. Fiduciary Trust Co.’s holdings in People’s United Financial were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of People’s United Financial by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 32,902,001 shares of the bank’s stock valued at $598,816,000 after purchasing an additional 3,027,697 shares during the last quarter. BlackRock Inc. boosted its stake in shares of People’s United Financial by 2,026.9% in the 1st quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock valued at $486,681,000 after purchasing an additional 25,483,451 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of People’s United Financial by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,291,294 shares of the bank’s stock valued at $150,905,000 after purchasing an additional 86,006 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of People’s United Financial by 6.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 7,675,306 shares of the bank’s stock valued at $139,691,000 after purchasing an additional 468,778 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of People’s United Financial by 22.6% in the 1st quarter. Geode Capital Management LLC now owns 3,698,627 shares of the bank’s stock valued at $67,221,000 after purchasing an additional 681,996 shares during the last quarter. 77.02% of the stock is currently owned by institutional investors.

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PBCT has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $17.75 target price (up previously from $17.50) on shares of People’s United Financial in a research note on Friday, July 7th. Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, September 5th. BidaskClub lowered shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research note on Friday, August 18th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.38.

Shares of People’s United Financial, Inc. (NASDAQ PBCT) opened at 16.25 on Friday. The firm has a market capitalization of $5.48 billion, a P/E ratio of 18.18 and a beta of 0.82. The firm’s 50-day moving average is $17.03 and its 200 day moving average is $17.62. People’s United Financial, Inc. has a one year low of $15.28 and a one year high of $20.13.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $366.50 million for the quarter, compared to the consensus estimate of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. People’s United Financial’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 earnings per share. Equities research analysts predict that People’s United Financial, Inc. will post $0.93 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, July 28th. People’s United Financial’s payout ratio is 77.53%.

In other People’s United Financial news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

People’s United Financial Company Profile

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.

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

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