Mark W. Richards Sells 4,000 Shares of People's United Financial, Inc. (PBCT) Stock

People's United Financial, Inc. (NASDAQ:PBCT) Director Mark W. Richards sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $18.71, for a total transaction of $74,840.00. Following the completion of the sale, the director now directly owns 13,758 shares in the company, valued at approximately $257,412.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

People's United Financial traded down $0.17, hitting $18.63, during trading hours on Friday, Marketbeat.com reports. 1,879,265 shares of the stock were exchanged, compared to its average volume of 2,824,696. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 7.34 and a beta of 0.88. People's United Financial, Inc. has a 12 month low of $15.97 and a 12 month high of $20.26.

People's United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, April 19th. The bank reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. People's United Financial had a net margin of 21.64% and a return on equity of 7.16%. The firm had revenue of $386.20 million for the quarter, compared to analysts’ expectations of $398.69 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. equities research analysts predict that People's United Financial, Inc. will post 1.28 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from People's United Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, April 30th. People's United Financial’s dividend payout ratio is presently 67.31%.

Several hedge funds have recently made changes to their positions in the company. Wolverine Trading LLC lifted its position in shares of People's United Financial by 10.4% during the fourth quarter. Wolverine Trading LLC now owns 28,253 shares of the bank’s stock worth $528,000 after purchasing an additional 2,653 shares in the last quarter. US Bancorp DE lifted its holdings in People's United Financial by 36.8% in the first 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. Raymond James Financial Services Advisors Inc. lifted its holdings in People's United Financial by 2.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 187,093 shares of the bank’s stock valued at $3,499,000 after buying an additional 3,624 shares during the period. Estabrook Capital Management lifted its holdings in People's United Financial by 4.0% in the fourth quarter. Estabrook Capital Management now owns 97,152 shares of the bank’s stock valued at $1,817,000 after buying an additional 3,769 shares during the period. Finally, Amalgamated Bank lifted its holdings in People's United Financial by 5.7% in the fourth quarter. Amalgamated Bank now owns 71,124 shares of the bank’s stock valued at $1,330,000 after buying an additional 3,810 shares during the period. Institutional investors own 76.57% of the company’s stock.

Several analysts have weighed in on PBCT shares. Zacks Investment Research raised shares of People's United Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 27th. ValuEngine raised shares of People's United Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. BidaskClub raised shares of People's United Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Sandler O’Neill raised shares of People's United Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 19th. Finally, Morgan Stanley decreased their price objective on shares of People's United Financial from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Friday, April 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $20.06.

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.

Insider Buying and Selling by Quarter for People's United Financial (NASDAQ:PBCT)

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