Eaton Vance Management reduced its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,206 shares of the bank’s stock after selling 370 shares during the period. Eaton Vance Management owned about 0.15% of People’s United Financial worth $9,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Bank of Australia lifted its position in shares of People’s United Financial by 3.1% during the second quarter. Commonwealth Bank of Australia now owns 47,409 shares of the bank’s stock worth $836,000 after purchasing an additional 1,415 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of People’s United Financial during the second quarter worth $5,885,000. IFM Investors Pty Ltd acquired a new stake in People’s United Financial in the second quarter valued at $350,000. Fiduciary Trust Co. raised its holdings in People’s United Financial by 24.2% in the second quarter. Fiduciary Trust Co. now owns 21,030 shares of the bank’s stock valued at $372,000 after acquiring an additional 4,097 shares in the last quarter. Finally, Ffcm LLC raised its holdings in People’s United Financial by 208.3% in the second quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock valued at $114,000 after acquiring an additional 4,287 shares in the last quarter. 77.02% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of People’s United Financial, Inc. (PBCT) opened at 16.92 on Wednesday. The company has a 50-day moving average of $17.00 and a 200 day moving average of $17.57. The firm has a market capitalization of $5.71 billion, a PE ratio of 18.93 and a beta of 0.82. People’s United Financial, Inc. has a 12-month low of $15.28 and a 12-month high of $20.13.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, July 20th. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $366.50 million during 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%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. On average, analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a $0.1725 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.69 annualized dividend and a yield of 4.08%. People’s United Financial’s dividend payout ratio (DPR) is currently 77.53%.

In related news, insider Jeffrey Hoyt sold 6,759 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total value of $121,526.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

People’s United Financial 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.

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

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