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 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.”

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

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People’s United Financial (NASDAQ:PBCT) traded up 0.159% during midday trading on Wednesday, reaching $15.705. 558,079 shares of the company’s stock were exchanged. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 17.646 and a beta of 0.80. People’s United Financial has a 52 week low of $13.62 and a 52 week high of $16.93. The firm’s 50 day moving average is $15.74 and its 200 day moving average is $15.56.

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

In other People’s United Financial news, VP David K. Norton sold 15,495 shares of the company’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 value of $248,694.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robert E. Trautmann sold 186,123 shares of the company’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. 2.90% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in PBCT. Stratos Wealth Partners LTD. raised its stake in People’s United Financial by 7.9% in the first quarter. Stratos Wealth Partners LTD. now owns 261,293 shares of the company’s stock valued at $4,162,000 after buying an additional 19,087 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of People’s United Financial by 5.2% in the first quarter. Teachers Advisors Inc. now owns 330,376 shares of the company’s stock worth $5,263,000 after buying an additional 16,413 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of People’s United Financial by 4.2% in the first quarter. TIAA CREF Investment Management LLC now owns 664,550 shares of the company’s stock worth $10,586,000 after buying an additional 26,521 shares during the period. Ngam Advisors L.P. raised its position in shares of People’s United Financial by 14.2% in the first quarter. Ngam Advisors L.P. now owns 41,168 shares of the company’s stock worth $656,000 after buying an additional 5,132 shares during the period. Finally, Pacad Investment Ltd. raised its position in shares of People’s United Financial by 252.9% in the first quarter. Pacad Investment Ltd. now owns 36,700 shares of the company’s stock worth $585,000 after buying an additional 26,300 shares during the period. 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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