Insider Selling: People's United Financial VP Sells 15,000 Shares of Stock (PBCT)
People's United Financial (NASDAQ:PBCT) VP Robert E. Trautmann sold 15,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $14.47, for a total transaction of $217,050.00. Following the sale, the vice president now directly owns 93,332 shares in the company, valued at approximately $1,350,514. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
People's United Financial (NASDAQ:PBCT) traded up 0.14% on Monday, hitting $14.53. 1,467,781 shares of the company’s stock traded hands. People's United Financial has a 1-year low of $13.73 and a 1-year high of $15.70. The stock has a 50-day moving average of $14.89 and a 200-day moving average of $14.58. The company has a market cap of $4.356 billion and a P/E ratio of 18.18. People's United Financial also saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 37,318,903 shares, a growth of 7.7% from the July 15th total of 34,641,468 shares. Based on an average daily trading volume, of 3,247,739 shares, the short-interest ratio is presently 11.5 days. Approximately 12.2% of the shares of the stock are sold short.
People's United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.04. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, analysts predict that People's United Financial will post $0.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Friday, August 1st will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, July 30th.
A number of analysts have recently weighed in on PBCT shares. Analysts at Zacks reiterated a “neutral” rating on shares of People's United Financial in a research note on Monday. They now have a $15.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of People's United Financial in a research note on Monday, July 21st. They now have a $15.50 price target on the stock, up previously from $15.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of People's United Financial in a research note on Friday, July 18th. They now have a $15.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.95.
People’s United Financial, Inc (NASDAQ:PBCT) is a savings and loan holding company.
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