People’s United Financial (PBCT) Rating Increased to Equal Weight at Barclays

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People’s United Financial (NASDAQ:PBCT) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Thursday, The Fly reports.

PBCT has been the topic of several other reports. BidaskClub upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Wells Fargo & Co restated a “hold” rating on shares of People’s United Financial in a research note on Thursday, January 3rd. FIG Partners started coverage on People’s United Financial in a research note on Thursday, December 20th. They set an “outperform” rating on the stock. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.25.

Shares of PBCT stock opened at $15.08 on Thursday. People’s United Financial has a 1-year low of $13.66 and a 1-year high of $20.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.68 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 5.31 and a beta of 1.06.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. The firm had revenue of $398.70 million for the quarter, compared to the consensus estimate of $404.65 million. During the same period in the previous year, the business earned $0.26 EPS. On average, equities research analysts forecast that People’s United Financial will post 1.29 earnings per share for the current fiscal year.

In other People’s United Financial news, VP David K. Norton sold 32,163 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total transaction of $478,907.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC grew its stake in People’s United Financial by 9.5% during the 3rd quarter. Ridgewood Investments LLC now owns 36,987 shares of the bank’s stock valued at $633,000 after purchasing an additional 3,215 shares during the last quarter. Rampart Investment Management Company LLC boosted its stake in shares of People’s United Financial by 26.6% in the third quarter. Rampart Investment Management Company LLC now owns 15,628 shares of the bank’s stock worth $59,768,000 after buying an additional 3,284 shares during the last quarter. Cadence Capital Management LLC boosted its stake in shares of People’s United Financial by 7.9% in the third quarter. Cadence Capital Management LLC now owns 44,971 shares of the bank’s stock worth $770,000 after buying an additional 3,307 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of People’s United Financial by 0.9% in the third quarter. AQR Capital Management LLC now owns 385,996 shares of the bank’s stock worth $6,608,000 after buying an additional 3,326 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in shares of People’s United Financial by 7.9% in the third quarter. Commonwealth Bank of Australia now owns 46,395 shares of the bank’s stock worth $790,000 after buying an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.

People’s United Financial Company 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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Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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