People’s United Financial (NASDAQ:PBCT) Rating Increased to Hold at BidaskClub

People’s United Financial (NASDAQ:PBCT) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Tuesday, October 29th. ValuEngine upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lowered People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 target price on the stock. in a research report on Thursday, September 5th. Raymond James assumed coverage on People’s United Financial in a research note on Tuesday, November 26th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley reduced their price target on People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Ten research 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 has an average rating of “Hold” and an average target price of $17.00.

NASDAQ:PBCT opened at $16.51 on Friday. The stock has a market capitalization of $6.59 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 6.13 and a beta of 1.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.56. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $18.03. The firm has a 50 day moving average of $16.55 and a 200-day moving average of $15.95.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $462.00 million for the quarter, compared to analysts’ expectations of $452.39 million. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. As a group, analysts forecast that People’s United Financial will post 1.35 EPS for the current fiscal year.

In related news, CAO Jeffrey Hoyt sold 14,263 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $16.09, for a total transaction of $229,491.67. Following the completion of the transaction, the chief accounting officer now directly owns 25,199 shares of the company’s stock, valued at $405,451.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R David Rosato sold 8,427 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.08, for a total value of $143,933.16. Following the transaction, the chief financial officer now directly owns 107,223 shares of the company’s stock, valued at $1,831,368.84. The disclosure for this sale can be found here. Insiders sold a total of 429,175 shares of company stock valued at $10,569,273 in the last 90 days. 2.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Resources Management Corp CT ADV acquired a new position in People’s United Financial during the third quarter worth $1,311,000. Metropolitan Life Insurance Co NY increased its stake in shares of People’s United Financial by 1.7% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 60,354 shares of the bank’s stock worth $944,000 after purchasing an additional 981 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of People’s United Financial in the 3rd quarter valued at about $1,360,000. Bank of Hawaii raised its holdings in shares of People’s United Financial by 1.9% in the 3rd quarter. Bank of Hawaii now owns 37,552 shares of the bank’s stock valued at $587,000 after purchasing an additional 707 shares during the period. Finally, Halsey Associates Inc. CT acquired a new stake in People’s United Financial in the 3rd quarter valued at about $216,000. 75.83% of the stock is owned by institutional investors.

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

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