Jefferies Group LLC lifted its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 91.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,221 shares of the bank’s stock after purchasing an additional 166,984 shares during the quarter. Jefferies Group LLC’s holdings in People’s United Financial were worth $5,996,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. FineMark National Bank & Trust bought a new position in shares of People’s United Financial during the 2nd quarter worth about $150,000. Citizens Financial Group Inc RI bought a new position in shares of People’s United Financial during the 3rd quarter worth about $159,000. GHP Investment Advisors Inc. bought a new position in shares of People’s United Financial during the 3rd quarter worth about $173,000. Warren Averett Asset Management LLC bought a new position in shares of People’s United Financial during the 3rd quarter worth about $179,000. Finally, Argent Trust Co bought a new position in shares of People’s United Financial during the 2nd quarter worth about $182,000. 73.67% of the stock is currently owned by institutional investors.
In related news, VP Lee C. Powlus sold 48,200 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $17.97, for a total value of $866,154.00. Following the transaction, the vice president now owns 146,050 shares of the company’s stock, valued at approximately $2,624,518.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.
Shares of NASDAQ PBCT opened at $16.14 on Friday. People’s United Financial, Inc. has a fifty-two week low of $15.04 and a fifty-two week high of $20.26. The stock has a market capitalization of $6.14 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 6.32 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57.
People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. The business had revenue of $398.70 million for the quarter, compared to analysts’ expectations of $404.65 million. During the same quarter last year, the firm earned $0.26 EPS. As a group, sell-side analysts expect that People’s United Financial, Inc. will post 1.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.70 annualized dividend and a yield of 4.34%. People’s United Financial’s payout ratio is 67.31%.
People’s United Financial Profile
People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.
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