Citigroup Inc. Acquires 4,137,269 Shares of People’s United Financial, Inc. (NASDAQ:PBCT)

Citigroup Inc. grew its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 146.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,956,029 shares of the bank’s stock after acquiring an additional 4,137,269 shares during the quarter. Citigroup Inc.’s holdings in People’s United Financial were worth $121,521,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Webster Bank N. A. boosted its position in shares of People’s United Financial by 200.0% during the third quarter. Webster Bank N. A. now owns 1,500 shares of the bank’s stock worth $26,000 after buying an additional 1,000 shares during the period. Herold Advisors Inc. acquired a new position in shares of People’s United Financial during the third quarter worth about $29,000. O Shaughnessy Asset Management LLC boosted its position in shares of People’s United Financial by 51.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,875 shares of the bank’s stock worth $33,000 after buying an additional 633 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of People’s United Financial during the second quarter worth about $57,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of People’s United Financial by 37.3% during the third quarter. Daiwa Securities Group Inc. now owns 3,352 shares of the bank’s stock worth $59,000 after buying an additional 910 shares during the period. Institutional investors own 71.21% of the company’s stock.

Several research firms have recently weighed in on PBCT. TheStreet cut People’s United Financial from a “b” rating to a “c+” rating in a research report on Thursday, October 21st. Morgan Stanley increased their price target on People’s United Financial from $21.00 to $22.75 and gave the company an “equal weight” rating in a research report on Monday, December 6th. Wells Fargo & Company reduced their price target on People’s United Financial from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 4th. Finally, Zacks Investment Research raised People’s United Financial from a “sell” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, December 28th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.11.

PBCT opened at $21.42 on Friday. People’s United Financial, Inc. has a 12-month low of $13.36 and a 12-month high of $21.44. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 14.00 and a beta of 1.10. The business has a 50 day moving average of $18.24 and a 200-day moving average of $17.26. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.21.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, October 21st. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). People’s United Financial had a net margin of 31.40% and a return on equity of 8.50%. The business had revenue of $470.70 million during the quarter, compared to analyst estimates of $482.40 million. During the same period in the previous year, the business earned $0.34 earnings per share. As a group, analysts expect that People’s United Financial, Inc. will post 1.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Monday, November 1st were given a $0.1825 dividend. The ex-dividend date was Friday, October 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.41%. People’s United Financial’s payout ratio is 47.71%.

People’s United Financial Profile

People’s United Financial, Inc is a bank and financial holding company, which engages in the commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. It operates through the Commercial Banking and Retail Banking segments. The Commercial Banking segment offers commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending, and the equipment financing operations.

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Institutional Ownership by Quarter for People's United Financial (NASDAQ:PBCT)

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