Texas Permanent School Fund Has $1.34 Million Position in People’s United Financial, Inc. (PBCT)
Texas Permanent School Fund lowered its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,310 shares of the bank’s stock after selling 6,582 shares during the quarter. Texas Permanent School Fund’s holdings in People’s United Financial were worth $1,341,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tibra Equities Europe Ltd bought a new stake in People’s United Financial during the second quarter worth about $1,221,000. Great West Life Assurance Co. Can grew its stake in People’s United Financial by 1.0% during the second quarter. Great West Life Assurance Co. Can now owns 2,962,033 shares of the bank’s stock worth $53,674,000 after buying an additional 28,462 shares during the last quarter. Old Port Advisors bought a new stake in People’s United Financial during the second quarter worth about $3,056,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in People’s United Financial during the second quarter worth about $387,000. Finally, Tyers Asset Management LLC grew its stake in People’s United Financial by 1.8% during the second quarter. Tyers Asset Management LLC now owns 191,048 shares of the bank’s stock worth $3,456,000 after buying an additional 3,322 shares during the last quarter. 78.32% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director George P. Carter sold 10,874 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $18.70, for a total transaction of $203,343.80. Following the sale, the director now directly owns 13,758 shares of the company’s stock, valued at $257,274.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark F. Herron sold 10,976 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $18.65, for a total transaction of $204,702.40. Following the completion of the transaction, the insider now owns 31,242 shares in the company, valued at $582,663.30. The disclosure for this sale can be found here. Insiders have sold 70,050 shares of company stock worth $1,274,200 over the last three months. 2.50% of the stock is owned by insiders.
PBCT opened at $15.70 on Friday. People’s United Financial, Inc. has a one year low of $15.04 and a one year high of $20.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. The company has a market cap of $5.51 billion, a PE ratio of 15.10, a P/E/G ratio of 6.12 and a beta of 0.96.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, October 18th. The bank reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. The business had revenue of $398.70 million for the quarter, compared to analysts’ expectations of $404.65 million. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts anticipate that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a dividend of $0.175 per share. The ex-dividend date is Wednesday, October 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.46%. People’s United Financial’s dividend payout ratio (DPR) is currently 67.31%.
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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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