People's United Financial (PBCT) PT Raised to $20.00 at Barclays

People's United Financial (NASDAQ:PBCT) had its target price upped by investment analysts at Barclays from $18.00 to $20.00 in a report issued on Tuesday. The brokerage currently has an “underweight” rating on the bank’s stock. Barclays’ price target would suggest a potential upside of 6.84% from the stock’s current price.

PBCT has been the subject of several other reports. Zacks Investment Research lowered shares of People's United Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Piper Jaffray Companies restated a “sell” rating and issued a $16.00 price objective on shares of People's United Financial in a report on Wednesday, October 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.22.

Shares of People's United Financial (PBCT) traded down $0.08 on Tuesday, reaching $18.72. 2,472,000 shares of the company’s stock traded hands, compared to its average volume of 2,628,200. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.72. People's United Financial has a twelve month low of $15.97 and a twelve month high of $19.85. The stock has a market capitalization of $6,480.00, a price-to-earnings ratio of 20.57, a PEG ratio of 8.41 and a beta of 0.85.

People's United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01. People's United Financial had a net margin of 19.32% and a return on equity of 6.28%. The business had revenue of $373.90 million during the quarter, compared to analyst estimates of $374.59 million. During the same period last year, the business posted $0.24 earnings per share. People's United Financial’s quarterly revenue was up 11.2% compared to the same quarter last year. analysts anticipate that People's United Financial will post 1 earnings per share for the current fiscal year.

In other news, insider Jeffrey J. Tengel sold 173,685 shares of People's United Financial stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $19.32, for a total transaction of $3,355,594.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David K. Norton sold 108,194 shares of People's United Financial stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $19.22, for a total transaction of $2,079,488.68. The disclosure for this sale can be found here. Insiders have sold 724,338 shares of company stock valued at $13,796,084 over the last quarter. Company insiders own 2.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PBCT. Schwab Charles Investment Management Inc. increased its position in shares of People's United Financial by 10.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,548,127 shares of the bank’s stock valued at $27,340,000 after acquiring an additional 146,025 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in shares of People's United Financial during the second quarter valued at approximately $861,000. Comerica Bank increased its position in shares of People's United Financial by 7.5% during the second quarter. Comerica Bank now owns 81,811 shares of the bank’s stock valued at $1,444,000 after acquiring an additional 5,678 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of People's United Financial by 0.8% during the second quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after acquiring an additional 80 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of People's United Financial by 15.2% during the second quarter. Victory Capital Management Inc. now owns 388,082 shares of the bank’s stock valued at $6,854,000 after acquiring an additional 51,254 shares in the last quarter. 75.52% of the stock is owned by institutional investors.

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About People's United Financial

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.

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

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