People's United Financial (PBCT) Lowered to Sell at BidaskClub

BidaskClub cut shares of People's United Financial (NASDAQ:PBCT) from a hold rating to a sell rating in a report published on Thursday morning.

Several other analysts have also issued reports on the stock. Barclays boosted their price target on shares of People's United Financial from $18.00 to $20.00 and gave the company an underweight rating in a research report on Tuesday, January 2nd. Zacks Investment Research lowered shares of People's United Financial from a buy rating to a hold rating in a research report on Tuesday, December 26th. UBS started coverage on shares of People's United Financial in a research report on Thursday, March 22nd. They issued a neutral rating and a $21.00 price target on the stock. ValuEngine raised shares of People's United Financial from a hold rating to a buy rating in a research report on Wednesday, March 7th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $23.00 price target on shares of People's United Financial in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $20.06.

NASDAQ PBCT opened at $18.22 on Thursday. People's United Financial has a 12-month low of $15.97 and a 12-month high of $20.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.97 and a current ratio of 0.96. The company has a market capitalization of $6,324.38, a PE ratio of 16.41, a price-to-earnings-growth ratio of 7.05 and a beta of 0.88.

People's United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, April 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. People's United Financial had a net margin of 21.64% and a return on equity of 7.16%. The company had revenue of $386.20 million for the quarter, compared to analyst estimates of $398.69 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. research analysts predict that People's United Financial will post 1.29 earnings per share for the current fiscal year.

In related news, insider John P. Barnes sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.10, for a total transaction of $420,200.00. Following the completion of the transaction, the insider now owns 120,842 shares of the company’s stock, valued at $2,308,082.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jerry Franklin sold 4,300 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 92,949 shares of the company’s stock, valued at approximately $1,850,614.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,127 shares of company stock valued at $1,472,533. 2.50% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in People's United Financial by 1.7% during the fourth quarter. BlackRock Inc. now owns 27,027,645 shares of the bank’s stock valued at $505,417,000 after acquiring an additional 447,723 shares in the last quarter. Wells Fargo & Company MN grew its stake in People's United Financial by 3.1% during the fourth quarter. Wells Fargo & Company MN now owns 19,109,237 shares of the bank’s stock valued at $357,342,000 after acquiring an additional 567,940 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in People's United Financial by 17.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,834,322 shares of the bank’s stock valued at $90,402,000 after acquiring an additional 704,522 shares in the last quarter. Geode Capital Management LLC grew its stake in People's United Financial by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,114,715 shares of the bank’s stock valued at $76,800,000 after acquiring an additional 221,039 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in People's United Financial by 1.6% during the fourth quarter. First Trust Advisors LP now owns 2,812,297 shares of the bank’s stock valued at $52,590,000 after acquiring an additional 43,649 shares in the last quarter. 76.18% of the stock is owned by institutional investors.

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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.

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

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