ProShare Advisors LLC boosted its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,742 shares of the bank’s stock after buying an additional 3,223 shares during the quarter. ProShare Advisors LLC’s holdings in People’s United Financial were worth $1,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PBCT. Glassman Wealth Services increased its position in People’s United Financial by 4,150.7% during the second quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock worth $101,000 after buying an additional 5,562 shares during the last quarter. Ffcm LLC increased its position in People’s United Financial by 208.3% during the second quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock worth $114,000 after buying an additional 4,287 shares during the last quarter. Federated Investors Inc. PA increased its position in People’s United Financial by 0.8% during the second quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock worth $171,000 after buying an additional 80 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in People’s United Financial by 9.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 10,771 shares of the bank’s stock worth $190,000 after buying an additional 968 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in People’s United Financial during the second quarter worth approximately $193,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

People’s United Financial, Inc. (PBCT) opened at 17.91 on Thursday. The firm has a market cap of $6.04 billion, a P/E ratio of 20.03 and a beta of 0.82. The stock has a 50 day moving average price of $16.90 and a 200 day moving average price of $17.47. People’s United Financial, Inc. has a 52-week low of $15.28 and a 52-week high of $20.13.

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

In other news, Director Janet M. Hansen sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the sale, the director now owns 145,707 shares in the company, valued at approximately $2,497,417.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey Hoyt sold 6,759 shares of the firm’s 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 disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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

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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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