People’s United Financial, Inc. (NASDAQ:PBCT) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.58.

PBCT has been the subject of a number of recent research reports. Zacks Investment Research cut People’s United Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. BidaskClub raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $21.50 price objective on shares of People’s United Financial in a research report on Thursday, April 19th. Morgan Stanley increased their price objective on People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 24th. Finally, ValuEngine cut People’s United Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th.

People’s United Financial traded down $0.03, reaching $18.40, during mid-day trading on Wednesday, MarketBeat Ratings reports. 19,115 shares of the company were exchanged, compared to its average volume of 2,857,809. People’s United Financial has a twelve month low of $15.97 and a twelve month high of $20.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 7.19 and a beta of 0.94.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, July 19th. The bank reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. People’s United Financial had a return on equity of 7.57% and a net margin of 23.24%. The company had revenue of $396.10 million during the quarter, compared to analysts’ expectations of $395.57 million. During the same period last year, the firm earned $0.19 EPS. equities analysts predict that People’s United Financial will post 1.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Wednesday, August 1st will be issued a $0.175 dividend. The ex-dividend date is Tuesday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of 3.80%. People’s United Financial’s dividend payout ratio is currently 67.31%.

In other news, VP Robert E. Trautmann sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $18.34, for a total value of $183,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark W. Richards sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $18.71, for a total value of $74,840.00. Following the completion of the sale, the director now directly owns 13,758 shares of the company’s stock, valued at $257,412.18. The disclosure for this sale can be found here. Insiders sold a total of 89,404 shares of company stock valued at $1,635,871 over the last three months. Insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of People’s United Financial by 36.8% in the 1st quarter. US Bancorp DE now owns 11,698 shares of the bank’s stock valued at $218,000 after buying an additional 3,144 shares during the period. BNP Paribas Arbitrage SA raised its holdings in People’s United Financial by 20.4% during the first quarter. BNP Paribas Arbitrage SA now owns 229,205 shares of the bank’s stock worth $4,277,000 after purchasing an additional 38,765 shares during the last quarter. Korea Investment CORP acquired a new position in People’s United Financial during the first quarter worth $383,000. JPMorgan Chase & Co. raised its holdings in People’s United Financial by 81.8% during the first quarter. JPMorgan Chase & Co. now owns 1,502,177 shares of the bank’s stock worth $28,031,000 after purchasing an additional 675,946 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in People’s United Financial by 45.4% during the first quarter. Sei Investments Co. now owns 21,734 shares of the bank’s stock worth $406,000 after purchasing an additional 6,787 shares during the last quarter. 77.56% of the stock is owned by institutional investors and hedge funds.

About People’s United Financial

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.

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

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