People’s United Financial (NASDAQ:PBCT) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of People’s United Financial (NASDAQ:PBCT) from a hold rating to a sell rating in a report released on Thursday morning, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. ValuEngine cut People’s United Financial from a hold rating to a sell rating in a research note on Wednesday, May 15th. FIG Partners cut People’s United Financial from an outperform rating to a market perform rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $18.67.

Shares of NASDAQ PBCT opened at $14.50 on Thursday. People’s United Financial has a twelve month low of $13.66 and a twelve month high of $18.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $16.13 and a 200-day simple moving average of $16.63. The stock has a market capitalization of $5.65 billion, a PE ratio of 11.07, a PEG ratio of 5.34 and a beta of 1.21.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.34. People’s United Financial had a return on equity of 8.21% and a net margin of 23.51%. The business had revenue of $454.40 million during the quarter, compared to analysts’ expectations of $448.83 million. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, equities analysts predict that People’s United Financial will post 1.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.1775 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.71 dividend on an annualized basis and a yield of 4.90%. People’s United Financial’s dividend payout ratio (DPR) is presently 54.20%.

People’s United Financial declared that its board has initiated a share buyback plan on Thursday, July 18th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In related news, CFO R David Rosato sold 39,250 shares of People’s United Financial stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $16.20, for a total value of $635,850.00. Following the completion of the transaction, the chief financial officer now directly owns 137,952 shares in the company, valued at $2,234,822.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in People’s United Financial by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,879,897 shares of the bank’s stock worth $142,565,000 after acquiring an additional 589,342 shares during the period. Jane Street Group LLC purchased a new stake in People’s United Financial in the fourth quarter worth $169,000. FMR LLC lifted its stake in People’s United Financial by 12.8% in the fourth quarter. FMR LLC now owns 125,374 shares of the bank’s stock worth $1,809,000 after acquiring an additional 14,194 shares during the period. Norges Bank purchased a new stake in People’s United Financial in the fourth quarter worth $31,996,000. Finally, Geode Capital Management LLC lifted its stake in People’s United Financial by 9.7% in the fourth quarter. Geode Capital Management LLC now owns 5,871,742 shares of the bank’s stock worth $84,598,000 after acquiring an additional 517,455 shares during the period. Hedge funds and other institutional investors own 75.48% 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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