People’s United Financial, Inc. (PBCT) Position Cut by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 1.3% during the first quarter, Holdings Channel reports. The fund owned 9,803 shares of the bank’s stock after selling 125 shares during the period. Public Employees Retirement Association of Colorado’s holdings in People’s United Financial were worth $178,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its position in shares of People’s United Financial by 80.7% in the first quarter. First Trust Advisors LP now owns 2,601,590 shares of the bank’s stock worth $47,349,000 after buying an additional 1,162,108 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of People’s United Financial by 9.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,011,279 shares of the bank’s stock worth $18,405,000 after buying an additional 84,843 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of People’s United Financial by 10.0% in the first quarter. State Treasurer State of Michigan now owns 112,075 shares of the bank’s stock worth $2,040,000 after buying an additional 10,200 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of People’s United Financial by 2.9% in the first quarter. Great West Life Assurance Co. Can now owns 2,821,711 shares of the bank’s stock worth $51,328,000 after buying an additional 79,879 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of People’s United Financial by 4.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 49,492 shares of the bank’s stock worth $901,000 after buying an additional 2,138 shares during the last quarter. Institutional investors own 76.83% of the company’s stock.

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

People’s United Financial, Inc. (NASDAQ:PBCT) opened at 17.64 on Tuesday. The stock has a market cap of $5.48 billion, a P/E ratio of 19.03 and a beta of 0.81. The stock has a 50 day moving average of $17.17 and a 200-day moving average of $18.37. People’s United Financial, Inc. has a one year low of $13.80 and a one year high of $20.13.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. People’s United Financial had a net margin of 19.46% and a return on equity of 5.98%. The business had revenue of $342.80 million for the quarter, compared to analysts’ expectations of $336.29 million. During the same period in the previous year, the business earned $0.21 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Analysts anticipate that People’s United Financial, Inc. will post $0.95 EPS for the current year.

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A number of brokerages have commented on PBCT. BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research report on Friday, June 9th. Morgan Stanley upgraded shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $16.50 to $17.50 in a research report on Monday, June 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of People’s United Financial from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Finally, Sandler O’Neill upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating and upped their price objective for the stock from $17.00 to $19.50 in a research report on Friday, March 10th. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.22.

In related news, VP Robert E. Trautmann sold 118,836 shares of People’s United Financial stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $17.08, for a total transaction of $2,029,718.88. Following the sale, the vice president now directly owns 70,323 shares in the company, valued at $1,201,116.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jerry Franklin sold 4,520 shares of People’s United Financial stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total transaction of $75,574.40. Following the sale, the director now owns 97,249 shares in the company, valued at $1,626,003.28. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

People’s United Financial Company Profile

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PBCT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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