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 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
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.