Insider Selling: People’s United Financial, Inc. (NASDAQ:PBCT) President Sells 90,689 Shares of Stock

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People’s United Financial, Inc. (NASDAQ:PBCT) President Jeffrey J. Tengel sold 90,689 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $16.30, for a total value of $1,478,230.70. Following the completion of the transaction, the president now owns 154,592 shares in the company, valued at approximately $2,519,849.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

People’s United Financial stock traded down $0.01 during midday trading on Tuesday, reaching $16.38. The company’s stock had a trading volume of 46,474 shares, compared to its average volume of 4,250,621. People’s United Financial, Inc. has a 52 week low of $13.66 and a 52 week high of $18.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $16.20 and a 200-day moving average price of $16.00. The stock has a market cap of $6.58 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 6.09 and a beta of 1.26.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $462.00 million for the quarter, compared to analysts’ expectations of $452.39 million. People’s United Financial had a return on equity of 8.17% and a net margin of 23.32%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. As a group, research analysts predict that People’s United Financial, Inc. will post 1.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Wednesday, October 30th. People’s United Financial’s dividend payout ratio (DPR) is currently 54.20%.

Several large investors have recently added to or reduced their stakes in PBCT. Invesco Ltd. increased its holdings in shares of People’s United Financial by 10.5% in the 2nd quarter. Invesco Ltd. now owns 16,011,946 shares of the bank’s stock worth $268,681,000 after purchasing an additional 1,515,333 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in People’s United Financial in the 2nd quarter valued at about $17,994,000. Morgan Stanley lifted its stake in People’s United Financial by 36.6% in the 2nd quarter. Morgan Stanley now owns 2,350,911 shares of the bank’s stock valued at $39,448,000 after buying an additional 629,471 shares in the last quarter. First Trust Advisors LP lifted its stake in People’s United Financial by 19.0% in the 3rd quarter. First Trust Advisors LP now owns 3,599,066 shares of the bank’s stock valued at $56,271,000 after buying an additional 575,026 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in People’s United Financial by 230.0% in the 2nd quarter. SG Americas Securities LLC now owns 743,422 shares of the bank’s stock worth $12,475,000 after purchasing an additional 518,170 shares in the last quarter. Institutional investors own 76.39% of the company’s stock.

A number of research analysts recently commented on PBCT shares. Keefe, Bruyette & Woods cut People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price target on the stock. in a research report on Thursday, September 5th. BidaskClub upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley decreased their price target on People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Stephens started coverage on People’s United Financial in a research report on Tuesday, October 29th. They issued an “equal weight” rating and a $16.00 price target on the stock. Finally, Zacks Investment Research cut People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.00.

About People’s United Financial

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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Insider Buying and Selling by Quarter for People`s United Financial (NASDAQ:PBCT)

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