Trillium Asset Management LLC purchased a new position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,638 shares of the bank’s stock, valued at approximately $229,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amica Retiree Medical Trust purchased a new position in People’s United Financial during the second quarter worth about $30,000. Bartlett & Co. LLC purchased a new position in People’s United Financial during the third quarter worth about $37,000. Doyle Wealth Management purchased a new position in People’s United Financial during the second quarter worth about $38,000. AGF Investments LLC purchased a new position in People’s United Financial during the second quarter worth about $48,000. Finally, AdvisorNet Financial Inc raised its holdings in People’s United Financial by 706.8% during the third quarter. AdvisorNet Financial Inc now owns 3,324 shares of the bank’s stock worth $52,000 after purchasing an additional 2,912 shares in the last quarter. 76.46% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on PBCT. DA Davidson reissued a “buy” rating on shares of People’s United Financial in a report on Wednesday, September 11th. Morgan Stanley cut their price target on shares of People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. BidaskClub raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a report on Thursday, September 5th. Finally, Zacks Investment Research 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 Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.00.
People’s United Financial stock traded up $0.05 during mid-day trading on Friday, reaching $16.50. The company had a trading volume of 56,760 shares, compared to its average volume of 4,685,385. People’s United Financial, Inc. has a 1 year low of $13.66 and a 1 year high of $18.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $6.69 billion, a P/E ratio of 12.58, a P/E/G ratio of 6.21 and a beta of 1.26. The stock’s 50-day simple moving average is $16.14 and its 200-day simple moving average is $16.02.
People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The company had revenue of $462.00 million during the quarter, compared to analysts’ expectations of $452.39 million. During the same period last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that People’s United Financial, Inc. will post 1.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.177 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.29%. People’s United Financial’s dividend payout ratio (DPR) is presently 54.20%.
People’s United Financial announced that its board has approved a stock repurchase plan on Thursday, July 18th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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.
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