People’s United Financial (NASDAQ:PBCT) Lifted to Hold at BidaskClub

Share on StockTwits

BidaskClub upgraded shares of People’s United Financial (NASDAQ:PBCT) from a sell rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

A number of other research firms also recently issued reports on PBCT. ValuEngine downgraded People’s United Financial from a hold rating to a sell rating in a research report on Wednesday, May 15th. Keefe, Bruyette & Woods downgraded People’s United Financial from an outperform rating to a market perform rating and set a $16.00 price target for the company. in a research report on Thursday, September 5th. Finally, DA Davidson started coverage on People’s United Financial in a research report on Monday, August 26th. They set a buy rating and a $16.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $17.60.

Shares of NASDAQ:PBCT traded up $0.26 during midday trading on Thursday, reaching $16.32. The company’s stock had a trading volume of 3,399,026 shares, compared to its average volume of 4,002,889. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 6.04 and a beta of 1.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $18.10. The business has a 50 day moving average price of $15.04 and a 200 day moving average price of $16.30.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. People’s United Financial had a return on equity of 8.21% and a net margin of 23.51%. The firm had revenue of $454.40 million during the quarter, compared to the consensus estimate of $448.83 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. Sell-side analysts anticipate that People’s United Financial will post 1.33 earnings per share for the current fiscal year.

People’s United Financial declared that its Board of Directors has approved a share buyback program on Thursday, July 18th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors and hedge funds have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of People’s United Financial by 5.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 122,941 shares of the bank’s stock worth $2,063,000 after purchasing an additional 5,865 shares in the last quarter. Hancock Whitney Corp lifted its stake in shares of People’s United Financial by 13.5% in the second quarter. Hancock Whitney Corp now owns 88,180 shares of the bank’s stock worth $1,480,000 after acquiring an additional 10,503 shares in the last quarter. Atria Investments LLC acquired a new position in shares of People’s United Financial in the second quarter worth about $8,208,000. Treasurer of the State of North Carolina lifted its stake in shares of People’s United Financial by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 201,273 shares of the bank’s stock worth $3,377,000 after acquiring an additional 4,460 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of People’s United Financial in the second quarter worth about $1,083,000. Institutional investors own 76.88% 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.

Featured Article: How to trade the most active stocks

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

Receive News & Ratings for People's United Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Sun Communities  Issues Q4 Earnings Guidance
Sun Communities Issues Q4 Earnings Guidance
Ford Motor  Announces  Earnings Results, Beats Estimates By $0.08 EPS
Ford Motor Announces Earnings Results, Beats Estimates By $0.08 EPS
WP Carey Inc  Receives $77.00 Average PT from Analysts
WP Carey Inc Receives $77.00 Average PT from Analysts
Clarus Corp  Given Consensus Recommendation of “Buy” by Analysts
Clarus Corp Given Consensus Recommendation of “Buy” by Analysts
Roku Inc  Given Consensus Rating of “Buy” by Analysts
Roku Inc Given Consensus Rating of “Buy” by Analysts
GoWithMi  Reaches 1-Day Volume of $186,399.00
GoWithMi Reaches 1-Day Volume of $186,399.00


© 2006-2019 Ticker Report