People’s United Financial, Inc. (PBCT) Receives $20.50 Consensus Target Price from Analysts

Shares of People’s United Financial, Inc. (NASDAQ:PBCT) have been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $20.50.

Several equities research analysts recently issued reports on PBCT shares. BidaskClub upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Zacks Investment Research cut People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. ValuEngine cut People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Barclays reiterated a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a report on Sunday, January 20th. Finally, FIG Partners cut People’s United Financial from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd.

PBCT stock traded down $0.08 during trading on Friday, hitting $16.19. The stock had a trading volume of 1,854,398 shares, compared to its average volume of 3,652,042. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.39. People’s United Financial has a twelve month low of $13.66 and a twelve month high of $19.37. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 5.87 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 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. The company had revenue of $427.40 million for the quarter, compared to analysts’ expectations of $432.11 million. During the same period in the previous year, the firm posted $1.30 EPS. As a group, equities analysts forecast that People’s United Financial will post 1.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.1775 per share. This is a boost from People’s United Financial’s previous quarterly dividend of $0.18. This represents a $0.71 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, April 30th. People’s United Financial’s payout ratio is currently 54.20%.

In other news, insider Mark F. Herron sold 4,466 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.36, for a total transaction of $77,529.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Galan G. Daukas sold 13,534 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $17.11, for a total value of $231,566.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,885 shares of company stock worth $2,898,495. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc boosted its holdings in shares of People’s United Financial by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock worth $637,012,000 after purchasing an additional 582,938 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of People’s United Financial by 3.3% during the 1st quarter. BlackRock Inc. now owns 36,571,846 shares of the bank’s stock worth $601,242,000 after purchasing an additional 1,159,031 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of People’s United Financial by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 12,217,445 shares of the bank’s stock worth $176,298,000 after purchasing an additional 325,326 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of People’s United Financial by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,910,088 shares of the bank’s stock worth $162,927,000 after purchasing an additional 30,191 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of People’s United Financial by 5.4% during the 1st quarter. Geode Capital Management LLC now owns 6,186,233 shares of the bank’s stock worth $101,530,000 after purchasing an additional 314,491 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

People’s United Financial Company Profile

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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Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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