People’s United Financial, Inc. (PBCT) Position Increased by Amalgamated Bank

Amalgamated Bank boosted its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 49,152 shares of the bank’s stock after buying an additional 1,031 shares during the period. Amalgamated Bank’s holdings in People’s United Financial were worth $895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of People’s United Financial during the fourth quarter worth approximately $5,357,000. Comerica Bank raised its stake in shares of People’s United Financial by 0.8% in the fourth quarter. Comerica Bank now owns 75,599 shares of the bank’s stock worth $1,486,000 after buying an additional 621 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of People’s United Financial by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,850 shares of the bank’s stock worth $346,000 after buying an additional 90 shares during the last quarter. Tredje AP fonden raised its stake in shares of People’s United Financial by 67.0% in the fourth quarter. Tredje AP fonden now owns 42,154 shares of the bank’s stock worth $816,000 after buying an additional 16,914 shares during the last quarter. Finally, Federated Investors Inc. PA acquired a new stake in shares of People’s United Financial during the fourth quarter worth approximately $184,000. Hedge funds and other institutional investors own 76.83% of the company’s stock.

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

Shares of People’s United Financial, Inc. (NASDAQ:PBCT) traded down 1.25% during trading on Tuesday, reaching $17.42. The company’s stock had a trading volume of 1,397,129 shares. The company has a 50-day moving average price of $17.17 and a 200-day moving average price of $18.37. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 18.79 and a beta of 0.81. 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 posted its quarterly earnings results on Thursday, April 20th. The bank reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. People’s United Financial had a return on equity of 5.98% and a net margin of 19.46%. The business had revenue of $342.80 million for the quarter, compared to the consensus estimate of $336.29 million. During the same quarter in the prior year, the company earned $0.21 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that People’s United Financial, Inc. will post $0.95 earnings per share for the current fiscal year.

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A number of analysts recently commented on PBCT shares. Sandler O’Neill raised People’s United Financial from a “sell” rating to a “hold” rating and raised their price target for the stock from $17.00 to $19.50 in a research note on Friday, March 10th. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, March 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 price target on shares of People’s United Financial in a research note on Thursday, April 6th. Morgan Stanley raised People’s United Financial from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $16.50 to $17.50 in a research note on Monday, June 5th. They noted that the move was a valuation call. Finally, BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. People’s United Financial presently has an average rating of “Hold” and an average target price of $18.22.

In other news, Director Jerry Franklin sold 4,520 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total transaction of $75,574.40. Following the transaction, the director now owns 97,249 shares of the company’s stock, valued at approximately $1,626,003.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert E. Trautmann sold 118,836 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $17.08, for a total value of $2,029,718.88. Following the transaction, the vice president now directly owns 70,323 shares in the company, valued at approximately $1,201,116.84. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate 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”});

Want to see what other hedge funds are holding PBCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for People’s United Financial, Inc. (NASDAQ:PBCT).

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