Insider Selling: People's United Financial Director Unloads 3,700 Shares of Stock (PBCT)
People's United Financial (NASDAQ:PBCT) Director Jerry Franklin sold 3,700 shares of the stock on the open market in a transaction dated Friday, August 29th. The stock was sold at an average price of $14.93, for a total transaction of $55,241.00. Following the transaction, the director now directly owns 94,198 shares in the company, valued at approximately $1,406,376. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of People's United Financial in a research note on Monday, August 11th. 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 analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. People's United Financial currently has a consensus rating of “Hold” and an average price target of $14.95.
Shares of People's United Financial (NASDAQ:PBCT) traded up 0.07% during mid-day trading on Tuesday, hitting $14.96. 902,733 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 $14.77 and a 200-day moving average of $14.62. The company has a market cap of $4.485 billion and a P/E ratio of 18.69. People's United Financial also was the recipient of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 33,081,262 shares, a drop of 11.4% from the July 31st total of 37,318,903 shares. Based on an average trading volume of 2,596,553 shares, the short-interest ratio is presently 12.7 days. Currently, 10.8% of the company’s stock are sold short.
People's United Financial (NASDAQ:PBCT) last posted its quarterly earnings results 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 prior 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.
People’s United Financial, Inc (NASDAQ:PBCT) is a savings and loan holding company.
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