People's United Financial Short Interest Up 7.7% in July (PBCT)
People's United Financial (NASDAQ:PBCT) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 37,318,903 shares, an increase of 7.7% from the July 15th total of 34,641,468 shares, AnalystRatingsNetwork reports. Based on an average trading volume of 3,247,739 shares, the short-interest ratio is presently 11.5 days. Approximately 12.2% of the company’s shares are sold short.
In other People's United Financial news, VP Robert E. Trautmann sold 15,000 shares of the stock on the open market 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
PBCT has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. People's United Financial currently has a consensus rating of “Hold” and an average target price of $14.95.
People's United Financial (NASDAQ:PBCT) traded up 0.14% on Monday, hitting $14.53. The stock had a trading volume of 1,467,781 shares. People's United Financial has a 52-week low of $13.73 and a 52-week high of $15.70. The stock’s 50-day moving average is $14.89 and its 200-day moving average is $14.58. The company has a market cap of $4.356 billion and a price-to-earnings ratio of 18.18.
People's United Financial (NASDAQ:PBCT) last released its 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 last year, the company posted $0.20 earnings per share. Analysts expect that People's United Financial will post $0.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors 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.
People’s United Financial, Inc (NASDAQ:PBCT) is a savings and loan holding company.
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