Sandler O’Neill set a $21.00 target price on People's United Financial (NASDAQ:PBCT) in a research report sent to investors on Thursday, January 18th. The brokerage currently has a hold rating on the bank’s stock.
A number of other research firms have also recently commented on PBCT. BidaskClub upgraded shares of People's United Financial from a sell rating to a hold rating in a research note on Friday, January 19th. Zacks Investment Research upgraded shares of People's United Financial from a hold rating to a buy rating and set a $21.00 target price on the stock in a research note on Thursday, January 4th. Barclays lifted their price objective on shares of People's United Financial from $18.00 to $20.00 and gave the company an underweight rating in a research report on Tuesday, January 2nd. Finally, Piper Jaffray Companies reiterated a sell rating and set a $17.00 price objective on shares of People's United Financial in a research report on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $19.25.
Shares of People's United Financial (NASDAQ:PBCT) traded up $0.35 during mid-day trading on Thursday, reaching $18.91. 4,113,600 shares of the company traded hands, compared to its average volume of 3,171,282. People's United Financial has a one year low of $15.97 and a one year high of $20.14. The stock has a market cap of $6,547.62, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 7.41 and a beta of 0.87. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.
People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. People's United Financial had a net margin of 20.37% and a return on equity of 6.69%. The firm had revenue of $379.60 million for the quarter, compared to the consensus estimate of $392.70 million. During the same quarter last year, the firm posted $0.25 EPS. analysts anticipate that People's United Financial will post 1.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.1725 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.69 dividend on an annualized basis and a yield of 3.65%. People's United Financial’s dividend payout ratio is presently 71.13%.
In other news, Director Jerry Franklin sold 4,300 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $19.91, for a total transaction of $85,613.00. Following the sale, the director now owns 92,949 shares in the company, valued at $1,850,614.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John K. Dwight sold 56,928 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.08, for a total value of $1,086,186.24. The disclosure for this sale can be found here. Insiders sold 402,362 shares of company stock valued at $7,770,854 over the last quarter. 2.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA boosted its position in People's United Financial by 0.8% in the second 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 last quarter. Principal Financial Group Inc. boosted its position in People's United Financial by 9.9% in the second quarter. Principal Financial Group Inc. now owns 526,595 shares of the bank’s stock valued at $9,300,000 after buying an additional 47,239 shares during the last quarter. JPMorgan Chase & Co. boosted its position in People's United Financial by 103.5% in the second quarter. JPMorgan Chase & Co. now owns 802,592 shares of the bank’s stock valued at $14,173,000 after buying an additional 408,139 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in People's United Financial by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,583 shares of the bank’s stock valued at $452,000 after buying an additional 104 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in People's United Financial in the second quarter valued at approximately $193,000. Institutional investors and hedge funds own 75.53% of the company’s stock.
People's United Financial Company Profile
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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