Sumitomo Mitsui Asset Management Company LTD Buys 21 Shares of People’s United Financial, Inc. (NASDAQ:PBCT)

Sumitomo Mitsui Asset Management Company LTD increased its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,511 shares of the bank’s stock after buying an additional 21 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in People’s United Financial were worth $485,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PBCT. Mn Services Vermogensbeheer B.V. increased its stake in shares of People’s United Financial by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,076 shares of the bank’s stock valued at $137,000 after buying an additional 394 shares during the period. Advisory Services Network LLC bought a new stake in shares of People’s United Financial during the first quarter valued at about $137,000. Daiwa Securities Group Inc. increased its stake in shares of People’s United Financial by 19.2% in the first quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the bank’s stock valued at $158,000 after buying an additional 1,400 shares during the period. Macquarie Group Ltd. increased its stake in shares of People’s United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock valued at $189,000 after buying an additional 2,000 shares during the period. Finally, US Bancorp DE increased its stake in shares of People’s United Financial by 3.2% in the second quarter. US Bancorp DE now owns 11,061 shares of the bank’s stock valued at $195,000 after buying an additional 344 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of People’s United Financial, Inc. (NASDAQ PBCT) opened at 16.99 on Friday. The company has a market cap of $5.73 billion, a P/E ratio of 18.96 and a beta of 0.82. The firm’s 50-day moving average price is $17.58 and its 200 day moving average price is $17.93. People’s United Financial, Inc. has a 52 week low of $15.27 and a 52 week high of $20.13.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.04. The business had revenue of $366.50 million for the quarter, compared to the consensus estimate of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. On average, equities analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.69 dividend on an annualized basis and a yield of 4.06%. People’s United Financial’s dividend payout ratio (DPR) is presently 77.53%.

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Several analysts recently issued reports on the company. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of People’s United Financial in a report on Tuesday, May 9th. Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, 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 report on Monday, June 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. People’s United Financial currently has a consensus rating of “Hold” and an average price target of $18.25.

In related news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert E. Trautmann sold 118,836 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 70,323 shares in the company, valued at $1,201,116.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,115 shares of company stock worth $2,226,820. 2.70% of the stock is 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.

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

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