People’s United Financial (NASDAQ:PBCT) PT Raised to $21.00


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People’s United Financial (NASDAQ:PBCT) had its price target upped by equities research analysts at Morgan Stanley from $20.50 to $21.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price objective suggests a potential upside of 13.51% from the company’s previous close.

Several other research analysts have also recently commented on PBCT. Deutsche Bank Aktiengesellschaft boosted their price target on shares of People’s United Financial from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, January 25th. Seaport Global Securities reiterated a “neutral” rating on shares of People’s United Financial in a report on Tuesday, April 13th. Jefferies Financial Group cut shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a report on Friday, February 26th. Finally, Zacks Investment Research cut shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Tuesday, March 9th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. People’s United Financial presently has an average rating of “Hold” and an average price target of $15.63.

Shares of PBCT stock opened at $18.50 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $7.91 billion, a P/E ratio of 15.95 and a beta of 1.26. The company has a 50 day moving average price of $17.93 and a 200 day moving average price of $14.88. People’s United Financial has a fifty-two week low of $9.73 and a fifty-two week high of $19.40.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, April 22nd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $480.50 million during the quarter, compared to analysts’ expectations of $497.07 million. People’s United Financial had a net margin of 21.57% and a return on equity of 7.30%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. On average, research analysts forecast that People’s United Financial will post 1.21 EPS for the current fiscal year.

In related news, Director Jerry Franklin sold 7,000 shares of the company’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $18.09, for a total value of $126,630.00. Following the completion of the sale, the director now owns 95,514 shares in the company, valued at approximately $1,727,848.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David K. Norton sold 148,315 shares of the company’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $18.08, for a total transaction of $2,681,535.20. Following the completion of the sale, the vice president now owns 183,870 shares of the company’s stock, valued at approximately $3,324,369.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,390 shares of company stock valued at $3,919,730. 2.20% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Wealthcare Capital Management LLC purchased a new position in People’s United Financial during the 1st quarter worth $25,000. AdvisorNet Financial Inc raised its position in People’s United Financial by 218.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,987 shares of the bank’s stock worth $36,000 after buying an additional 1,363 shares during the last quarter. Arkadios Wealth Advisors raised its position in People’s United Financial by 414.6% during the 4th quarter. Arkadios Wealth Advisors now owns 2,686 shares of the bank’s stock worth $34,000 after buying an additional 2,164 shares during the last quarter. Signaturefd LLC raised its position in People’s United Financial by 114.7% during the 4th quarter. Signaturefd LLC now owns 2,793 shares of the bank’s stock worth $36,000 after buying an additional 1,492 shares during the last quarter. Finally, Charter Oak Capital Management LLC purchased a new position in People’s United Financial during the 4th quarter worth $38,000. Institutional investors own 71.55% of the company’s stock.

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 Commercial Banking segment offers commercial deposit products, commercial real estate lending, middle market and business banking, equipment financing, mortgage warehouse and asset-based lending, treasury management services, and capital market capabilities.

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

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