Elkfork Partners LLC Purchases New Position in People's United Financial, Inc. (PBCT)

Elkfork Partners LLC purchased a new position in shares of People's United Financial, Inc. (NASDAQ:PBCT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 188,012 shares of the bank’s stock, valued at approximately $3,516,000.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors purchased a new stake in shares of People's United Financial during the 4th quarter worth approximately $108,000. Community Bank N.A. bought a new position in People's United Financial in the 4th quarter worth approximately $115,000. Aurora Investment Counsel bought a new position in People's United Financial in the 4th quarter worth approximately $193,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in People's United Financial by 131.1% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,400 shares of the bank’s stock worth $194,000 after buying an additional 5,900 shares during the period. Finally, Wellington Shields & Co. LLC bought a new position in People's United Financial in the 4th quarter worth approximately $200,000. Institutional investors own 76.12% of the company’s stock.

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People's United Financial stock opened at $18.25 on Friday. 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, Inc. has a fifty-two week low of $15.97 and a fifty-two week high of $20.26. 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 (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. People's United Financial had a net margin of 20.37% and a return on equity of 6.69%. The firm had revenue of $379.60 million during the quarter, compared to the consensus estimate of $392.70 million. During the same period last year, the firm earned $0.25 EPS. equities research analysts anticipate that People's United Financial, Inc. will post 1.27 earnings per share for the current year.

In other People's United Financial news, insider John P. Barnes sold 22,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $19.10, for a total value of $420,200.00. Following the completion of the transaction, the insider now directly owns 120,842 shares of the company’s stock, valued at approximately $2,308,082.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry Franklin sold 4,300 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $19.91, for a total transaction of $85,613.00. Following the completion of the transaction, the director now directly owns 92,949 shares of the company’s stock, valued at $1,850,614.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,127 shares of company stock valued at $1,472,533. Insiders own 2.50% of the company’s stock.

Several research analysts recently commented on the stock. UBS assumed coverage on shares of People's United Financial in a report on Thursday. They issued a “neutral” rating and a $21.00 price objective for the company. ValuEngine raised shares of People's United Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Sandler O’Neill set a $21.00 price objective on shares of People's United Financial and gave the stock a “hold” rating in a report on Thursday, January 18th. BidaskClub raised shares of People's United Financial from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Finally, Zacks Investment Research raised shares of People's United Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.97.

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People's United Financial 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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