John K. Dwight Sells 56,928 Shares of People's United Financial, Inc. (PBCT) Stock
People's United Financial, Inc. (NASDAQ:PBCT) Director John K. Dwight sold 56,928 shares of People's United Financial stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $19.08, for a total transaction of $1,086,186.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
People's United Financial, Inc. (NASDAQ PBCT) traded down $0.11 during midday trading on Friday, reaching $18.91. 4,150,000 shares of the company’s stock were exchanged, compared to its average volume of 2,197,844. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.72. The stock has a market cap of $6,585.71, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 9.66 and a beta of 0.85. People's United Financial, Inc. has a 1-year low of $15.97 and a 1-year high of $20.13.
People's United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $373.90 million for the quarter, compared to the consensus estimate of $374.59 million. People's United Financial had a net margin of 19.32% and a return on equity of 6.28%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. equities research analysts expect that People's United Financial, Inc. will post 0.98 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in People's United Financial by 6.2% during the 2nd quarter. State Street Corp now owns 39,968,330 shares of the bank’s stock valued at $705,843,000 after purchasing an additional 2,316,636 shares during the period. Vanguard Group Inc. grew its position in shares of People's United Financial by 5.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,847,557 shares of the bank’s stock worth $615,409,000 after buying an additional 1,945,556 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of People's United Financial by 1.4% in the 3rd quarter. Wells Fargo & Company MN now owns 18,541,297 shares of the bank’s stock worth $336,338,000 after buying an additional 248,468 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of People's United Financial by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,325,647 shares of the bank’s stock worth $169,163,000 after buying an additional 110,404 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of People's United Financial by 2.3% in the 2nd quarter. Epoch Investment Partners Inc. now owns 7,853,746 shares of the bank’s stock worth $138,697,000 after buying an additional 178,440 shares during the last quarter. 75.68% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on PBCT shares. Piper Jaffray Companies set a $16.00 price objective on shares of People's United Financial and gave the company a “sell” rating in a report on Thursday, August 17th. Jefferies Group reiterated a “hold” rating and set a $19.00 price objective on shares of People's United Financial in a report on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of People's United Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.08.
About People's United Financial
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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