People’s United Financial, Inc. (PBCT) Short Interest Up 11.8% in April

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People’s United Financial, Inc. (NASDAQ:PBCT) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 24,971,166 shares, a growth of 11.8% from the April 15th total of 22,337,903 shares. Currently, 6.7% of the company’s stock are short sold. Based on an average daily trading volume, of 3,140,503 shares, the short-interest ratio is currently 8.0 days.

In related news, insider Mark F. Herron sold 4,466 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.36, for a total transaction of $77,529.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry Franklin sold 4,800 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $17.99, for a total value of $86,352.00. Following the transaction, the director now directly owns 93,317 shares in the company, valued at $1,678,772.83. The disclosure for this sale can be found here. Insiders have sold 162,885 shares of company stock worth $2,898,495 over the last three months. 2.40% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Knott David M acquired a new position in People’s United Financial in the 1st quarter worth about $25,000. Oppenheimer Asset Management Inc. acquired a new position in People’s United Financial in the 4th quarter worth about $28,000. First Hawaiian Bank boosted its stake in shares of People’s United Financial by 462.5% during the 4th quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock worth $29,000 after acquiring an additional 1,665 shares in the last quarter. CSat Investment Advisory L.P. boosted its stake in shares of People’s United Financial by 64.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock worth $41,000 after acquiring an additional 1,106 shares in the last quarter. Finally, Huntington National Bank bought a new stake in shares of People’s United Financial during the 1st quarter worth about $47,000. 77.52% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on PBCT shares. BidaskClub raised People’s United Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered People’s United Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, FIG Partners lowered People’s United Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. People’s United Financial currently has a consensus rating of “Hold” and a consensus price target of $19.70.

Shares of PBCT stock opened at $16.21 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.39. People’s United Financial has a fifty-two week low of $13.66 and a fifty-two week high of $19.37. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 5.88 and a beta of 1.17.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, April 18th. The bank reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. The company had revenue of $427.40 million for the quarter, compared to analyst estimates of $432.11 million. During the same period in the prior year, the firm posted $1.30 EPS. Equities research analysts expect that People’s United Financial will post 1.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.1775 dividend. This is a positive change from People’s United Financial’s previous quarterly dividend of $0.18. This represents a $0.71 annualized dividend and a yield of 4.38%. The ex-dividend date was Tuesday, April 30th. People’s United Financial’s dividend payout ratio is presently 54.20%.

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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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