People’s United Financial, Inc. (PBCT) Receives Consensus Rating of “Hold” from Analysts

People’s United Financial, Inc. (NASDAQ:PBCT) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.50.

A number of brokerages have recently issued reports on PBCT. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. ValuEngine cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. BidaskClub raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Friday, January 4th. FIG Partners began coverage on shares of People’s United Financial in a report on Thursday, December 20th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of People’s United Financial in a report on Thursday, January 3rd.

In related news, Director Mark W. Richards sold 6,800 shares of the company’s stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $16.43, for a total value of $111,724.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jerry Franklin sold 4,800 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.99, for a total transaction of $86,352.00. Following the completion of the transaction, the director now owns 93,317 shares in the company, valued at approximately $1,678,772.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,219 shares of company stock worth $2,932,690. 2.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Washington Trust Bank grew its stake in People’s United Financial by 17.3% in the 1st quarter. Washington Trust Bank now owns 22,516 shares of the bank’s stock valued at $370,000 after buying an additional 3,325 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of People’s United Financial by 63.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,405,128 shares of the bank’s stock worth $24,055,000 after purchasing an additional 544,832 shares in the last quarter. Morgan Stanley grew its position in shares of People’s United Financial by 22.9% during the 3rd quarter. Morgan Stanley now owns 2,494,820 shares of the bank’s stock worth $42,711,000 after purchasing an additional 464,448 shares in the last quarter. Comerica Bank grew its position in shares of People’s United Financial by 12.9% during the 4th quarter. Comerica Bank now owns 174,321 shares of the bank’s stock worth $2,937,000 after purchasing an additional 19,953 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of People’s United Financial during the 4th quarter worth approximately $1,061,000. Institutional investors and hedge funds own 77.50% of the company’s stock.

NASDAQ:PBCT traded down $0.03 on Monday, hitting $17.17. 23,916 shares of the company’s stock were exchanged, compared to its average volume of 3,649,989. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $6.47 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 6.07 and a beta of 1.16. People’s United Financial has a 52 week low of $13.66 and a 52 week high of $19.37.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, January 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. The company had revenue of $428.20 million for the quarter, compared to analysts’ expectations of $432.25 million. People’s United Financial had a net margin of 24.34% and a return on equity of 8.11%. People’s United Financial’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, analysts anticipate that People’s United Financial will post 1.39 earnings per share for the current fiscal year.

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.

Further Reading: Quiet Period Expirations

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

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