Toronto Dominion Bank Has $3.29 Million Stock Position in People’s United Financial, Inc. (NASDAQ:PBCT)

Toronto Dominion Bank reduced its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 9.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 192,037 shares of the bank’s stock after selling 19,498 shares during the period. Toronto Dominion Bank’s holdings in People’s United Financial were worth $3,291,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PBCT. O Shaughnessy Asset Management LLC raised its holdings in People’s United Financial by 10,976.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,440 shares of the bank’s stock worth $26,000 after buying an additional 1,427 shares during the period. TCI Wealth Advisors Inc. raised its holdings in People’s United Financial by 267.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,627 shares of the bank’s stock worth $45,000 after buying an additional 1,912 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of People’s United Financial by 103.7% in the first quarter. Loomis Sayles & Co. L P now owns 2,577 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,312 shares during the last quarter. Axiom Investment Management LLC acquired a new stake in shares of People’s United Financial in the first quarter valued at approximately $95,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of People’s United Financial in the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 70.79% of the company’s stock.

PBCT stock opened at $17.49 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average price of $16.59 and a two-hundred day moving average price of $17.31. People’s United Financial, Inc. has a one year low of $10.23 and a one year high of $19.62. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 11.28 and a beta of 1.22.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Wednesday, July 14th. The bank reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.06. People’s United Financial had a net margin of 30.99% and a return on equity of 8.53%. The firm had revenue of $551.70 million during the quarter, compared to analysts’ expectations of $497.60 million. During the same period in the previous year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts anticipate that People’s United Financial, Inc. will post 1.4 EPS for the current fiscal year.

PBCT has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on shares of People’s United Financial from $21.00 to $20.50 and set an “equal weight” rating on the stock in a report on Monday, August 2nd. Wells Fargo & Company lifted their price objective on shares of People’s United Financial from $17.15 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, October 7th. Finally, Zacks Investment Research cut shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $16.50 target price for the company. in a research note on Tuesday, September 21st. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.57.

People’s United Financial Profile

People’s United Financial, Inc is a bank and financial holding company, which engages in the commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. It operates through the Commercial Banking and Retail Banking segments. The Commercial Banking segment offers commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending, and the equipment financing operations.

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

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