People's United Financial, Inc. (PBCT) Holdings Increased by Nationwide Fund Advisors
Nationwide Fund Advisors raised its holdings in People's United Financial, Inc. (NASDAQ:PBCT) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,837 shares of the bank’s stock after buying an additional 3,407 shares during the quarter. Nationwide Fund Advisors’ holdings in People's United Financial were worth $2,627,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Glassman Wealth Services grew its holdings in People's United Financial by 4,150.7% in the 2nd quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock valued at $101,000 after buying an additional 5,562 shares during the period. Ffcm LLC grew its holdings in People's United Financial by 208.3% in the 2nd quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock valued at $114,000 after buying an additional 4,287 shares during the period. Advisory Services Network LLC grew its holdings in People's United Financial by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock valued at $137,000 after buying an additional 226 shares during the period. Federated Investors Inc. PA grew its holdings in People's United Financial by 0.8% in the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after buying an additional 80 shares during the period. Finally, Intl Fcstone Inc. purchased a new stake in People's United Financial in the 2nd quarter valued at about $185,000. Institutional investors own 75.52% of the company’s stock.
Several analysts have commented on PBCT shares. Zacks Investment Research cut People's United Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $16.00 price objective on shares of People's United Financial in a research note on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.09.
People's United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The business had revenue of $373.90 million for the quarter, compared to analyst estimates of $374.59 million. People's United Financial had a return on equity of 6.28% and a net margin of 19.32%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. sell-side analysts anticipate that People's United Financial, Inc. will post 1 earnings per share for the current fiscal year.
In other news, VP David K. Norton sold 108,194 shares of People's United Financial stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total value of $2,079,488.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO R David Rosato sold 6,040 shares of People's United Financial stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $19.18, for a total value of $115,847.20. The disclosure for this sale can be found here. Insiders sold a total of 724,338 shares of company stock worth $13,796,084 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.
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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