Bradley Foster & Sargent Inc. CT Acquires 315,538 Shares of People’s United Financial, Inc. (PBCT)

Bradley Foster & Sargent Inc. CT raised its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 163.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 508,769 shares of the bank’s stock after acquiring an additional 315,538 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in People’s United Financial were worth $8,364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc increased its position in People’s United Financial by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock valued at $637,012,000 after acquiring an additional 582,938 shares during the period. BlackRock Inc. increased its position in People’s United Financial by 9.6% in the 4th quarter. BlackRock Inc. now owns 35,412,815 shares of the bank’s stock valued at $511,006,000 after acquiring an additional 3,095,130 shares during the period. Bank of New York Mellon Corp increased its position in People’s United Financial by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 12,217,445 shares of the bank’s stock valued at $176,298,000 after acquiring an additional 325,326 shares during the period. Dimensional Fund Advisors LP increased its position in People’s United Financial by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,879,897 shares of the bank’s stock valued at $142,565,000 after acquiring an additional 589,342 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of People’s United Financial by 9.7% in the 4th quarter. Geode Capital Management LLC now owns 5,871,742 shares of the bank’s stock valued at $84,598,000 after purchasing an additional 517,455 shares during the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

PBCT has been the topic of a number of analyst reports. BidaskClub raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Zacks Investment Research lowered shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. ValuEngine lowered shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Barclays reaffirmed a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a research note on Sunday, January 20th. Finally, FIG Partners lowered shares of People’s United Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.70.

In related news, EVP David P. Berey sold 129,431 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $17.90, for a total transaction of $2,316,814.90. Following the transaction, the executive vice president now directly owns 46,672 shares of the company’s stock, valued at $835,428.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Galan G. Daukas sold 13,534 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $17.11, for a total transaction of $231,566.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,885 shares of company stock worth $2,898,495. 2.40% of the stock is owned by insiders.

NASDAQ:PBCT opened at $17.60 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.94 and a current ratio of 0.94. People’s United Financial, Inc. has a 52 week low of $13.66 and a 52 week high of $19.37. The firm has a market capitalization of $6.66 billion, a PE ratio of 13.44, a PEG ratio of 6.39 and a beta of 1.17.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.33 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.33. People’s United Financial had a net margin of 23.64% and a return on equity of 8.16%. The company had revenue of $427.40 million for the quarter, compared to analyst estimates of $432.11 million. During the same period in the prior year, the firm posted $1.30 EPS. Equities research analysts forecast that People’s United Financial, Inc. will post 1.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.1775 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This is a positive change from People’s United Financial’s previous quarterly dividend of $0.18. This represents a $0.71 annualized dividend and a yield of 4.03%. People’s United Financial’s dividend payout ratio is currently 54.20%.

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

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