Alliancebernstein L.P. Has $10.09 Million Position in People's United Financial, Inc. (PBCT)

Alliancebernstein L.P. decreased its position in shares of People's United Financial, Inc. (NASDAQ:PBCT) by 1.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 539,569 shares of the bank’s stock after selling 9,766 shares during the quarter. Alliancebernstein L.P. owned approximately 0.16% of People's United Financial worth $10,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its stake in shares of People's United Financial by 14.1% during the 4th quarter. Toronto Dominion Bank now owns 149,050 shares of the bank’s stock valued at $2,788,000 after buying an additional 18,431 shares in the last quarter. Wealthfront Inc. lifted its stake in shares of People's United Financial by 16.0% during the 4th quarter. Wealthfront Inc. now owns 68,136 shares of the bank’s stock valued at $1,274,000 after buying an additional 9,407 shares in the last quarter. Iberiabank Corp lifted its stake in shares of People's United Financial by 6.4% during the 3rd quarter. Iberiabank Corp now owns 285,985 shares of the bank’s stock valued at $5,188,000 after buying an additional 17,125 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of People's United Financial by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 1,940,578 shares of the bank’s stock valued at $35,203,000 after buying an additional 39,215 shares in the last quarter. Finally, Bank of Hawaii lifted its stake in shares of People's United Financial by 8.8% during the 4th quarter. Bank of Hawaii now owns 49,069 shares of the bank’s stock valued at $918,000 after buying an additional 3,970 shares in the last quarter. Institutional investors own 76.12% of the company’s stock.

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In other news, insider Galan G. Daukas sold 5,612 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $19.60, for a total value of $109,995.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert E. Trautmann sold 30,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $19.86, for a total transaction of $595,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,127 shares of company stock worth $1,472,533. Insiders own 2.50% of the company’s stock.

Shares of People's United Financial stock opened at $18.25 on Friday. The company has a market cap of $6,556.94, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 7.43 and a beta of 0.87. People's United Financial, Inc. has a one year low of $15.97 and a one year high of $20.26. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.

People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The business had revenue of $379.60 million for the quarter, compared to analysts’ expectations of $392.70 million. People's United Financial had a net margin of 20.37% and a return on equity of 6.69%. During the same quarter in the previous year, the company earned $0.25 EPS. equities analysts forecast that People's United Financial, Inc. will post 1.27 earnings per share for the current year.

PBCT has been the topic of a number of analyst reports. Barclays lifted their target price on shares of People's United Financial from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded shares of People's United Financial from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, December 5th. BidaskClub cut shares of People's United Financial from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 price target on shares of People's United Financial in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.97.

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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.

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

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