Piper Jaffray Companies reissued their sell rating on shares of People’s United Financial, Inc. (NASDAQ:PBCT) in a research report report published on Wednesday morning. Piper Jaffray Companies currently has a $16.00 target price on the bank’s stock.

Several other research firms have also recently weighed in on PBCT. Zacks Investment Research cut shares of People’s United Financial from a hold rating to a sell rating in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods reaffirmed a hold rating on shares of People’s United Financial in a report on Monday, July 10th. Morgan Stanley reaffirmed an equal weight rating and issued a $17.75 price target (up previously from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Finally, BidaskClub raised shares of People’s United Financial from a strong sell rating to a sell rating in a report on Friday, June 30th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. People’s United Financial currently has an average rating of Hold and an average price target of $18.38.

Shares of People’s United Financial (PBCT) opened at 18.24 on Wednesday. The firm has a market cap of $6.16 billion, a P/E ratio of 20.40 and a beta of 0.84. The firm has a 50 day moving average price of $17.13 and a 200-day moving average price of $17.39. People’s United Financial has a one year low of $15.28 and a one year high of $20.13.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share 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 company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. Analysts forecast that People’s United Financial will post $0.93 earnings per share for the current year.

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In related news, insider Jeffrey Hoyt sold 6,759 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet M. Hansen sold 12,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the transaction, the director now owns 145,707 shares of the company’s stock, valued at $2,497,417.98. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. W. E. Donoghue & Co. LLC purchased a new position in People’s United Financial in the second quarter worth $16,141,000. Intl Fcstone Inc. purchased a new position in People’s United Financial in the second quarter worth $185,000. Sentry Investment Management LLC grew its position in People’s United Financial by 1.1% in the second quarter. Sentry Investment Management LLC now owns 23,768 shares of the bank’s stock worth $420,000 after acquiring an additional 256 shares in the last quarter. Toronto Dominion Bank grew its position in People’s United Financial by 36.5% in the second quarter. Toronto Dominion Bank now owns 116,640 shares of the bank’s stock worth $2,060,000 after acquiring an additional 31,179 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in People’s United Financial by 3.0% in the second quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock worth $137,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

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.

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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