People’s United Financial Inc. (NASDAQ:PBCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “People’s United’s revenue growth remains under pressure amid a challenging operating environment. Notably, management curtailed net interest income growth projection as well as margin guidance for 2016 assuming a persistent flat-yield curve scenario and absence of Fed rate hike this year. Also, despite cost-cutting initiatives, the company continues to record increased expenses which will likely hurt bottom-line growth. Additionally, stringent regulatory norms limit bank’s flexibility in business operations. However, we remain optimistic about the expansion moves of the company with latest deals to acquire Gerstein Fisher and Suffolk Bancorp, both of which are anticipated to be accretive to earnings.  Also, sustained growth in loans and deposits highlights organic growth.”

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $16.00 price target on shares of People’s United Financial in a report on Wednesday, June 29th. Piper Jaffray Cos. raised People’s United Financial from an “underweight” rating to a “neutral” rating and set a $14.00 price target on the stock in a report on Wednesday, June 29th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.19.

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People’s United Financial (NASDAQ:PBCT) traded up 0.06% during trading on Wednesday, hitting $15.69. The company had a trading volume of 539,358 shares. People’s United Financial has a 1-year low of $13.62 and a 1-year high of $16.93. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 17.63 and a beta of 0.80. The company’s 50 day moving average price is $15.73 and its 200-day moving average price is $15.56.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. People’s United Financial had a return on equity of 5.60% and a net margin of 19.13%. On average, analysts expect that People’s United Financial will post $0.89 EPS for the current year.

In related news, VP David K. Norton sold 15,495 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $16.05, for a total transaction of $248,694.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert E. Trautmann sold 186,123 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $15.38, for a total value of $2,862,571.74. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in People’s United Financial during the fourth quarter valued at about $40,994,000. Chevy Chase Trust Holdings Inc. raised its position in People’s United Financial by 4.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 261,943 shares of the company’s stock valued at $4,173,000 after buying an additional 11,312 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in People’s United Financial by 15.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 72,839 shares of the company’s stock valued at $1,160,000 after buying an additional 9,487 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its position in People’s United Financial by 8.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 75,585 shares of the company’s stock valued at $1,204,000 after buying an additional 6,049 shares during the last quarter. Finally, PGGM Investments raised its position in People’s United Financial by 3.9% in the first quarter. PGGM Investments now owns 470,556 shares of the company’s stock valued at $7,496,000 after buying an additional 17,857 shares during the last quarter. Institutional investors and hedge funds own 77.32% of the company’s stock.

About People’s United Financial

People’s United Financial, Inc (People’s United) is the bank holding company for People’s United Bank, National Association (the Bank). The principal business of the Company is to provide, through the Bank and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers.

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