Brokerages forecast that People's United Financial, Inc. (NASDAQ:PBCT) will announce sales of $358 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for People's United Financial’s earnings. The highest sales estimate is $364.8 million and the lowest is $351.2 million. People's United Financial posted sales of $325.4 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The company is scheduled to announce its next quarterly earnings results on Thursday, July 20th.

According to Zacks, analysts expect that People's United Financial will report full-year sales of $358 million for the current financial year, with estimates ranging from $1.44 billion to $1.51 billion. For the next year, analysts expect that the firm will report sales of $1.6 billion per share, with estimates ranging from $1.57 billion to $1.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow People's United Financial.

People's United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, April 20th. The bank reported $0.22 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.22. People's United Financial had a net margin of 19.12% and a return on equity of 5.86%. The company had revenue of $342.80 million for the quarter, compared to the consensus estimate of $336.29 million. During the same quarter in the previous year, the company earned $0.21 EPS. People's United Financial’s quarterly revenue was up 4.0% compared to the same quarter last year.

PBCT has been the topic of several recent analyst reports. Barclays PLC lifted their price target on shares of People's United Financial from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, January 20th. Zacks Investment Research cut shares of People's United Financial from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Sandler O’Neill upgraded shares of People's United Financial from a “sell” rating to a “hold” rating and lifted their price target for the company from $17.00 to $19.50 in a report on Friday, March 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People's United Financial in a report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.31.

People's United Financial (NASDAQ:PBCT) opened at 17.15 on Wednesday. People's United Financial has a 52-week low of $13.80 and a 52-week high of $20.13. The company’s 50 day moving average is $17.66 and its 200-day moving average is $18.48. The firm has a market cap of $5.33 billion, a P/E ratio of 18.62 and a beta of 0.83.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, April 27th. This is a boost from People's United Financial’s previous quarterly dividend of $0.17. People's United Financial’s payout ratio is 73.91%.

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In other news, VP David K. Norton sold 149,965 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $19.24, for a total transaction of $2,885,326.60. Following the sale, the vice president now owns 276,891 shares in the company, valued at approximately $5,327,382.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Galan G. Daukas sold 9,143 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $19.21, for a total transaction of $175,637.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,804 shares of company stock worth $3,074,257. Company insiders own 2.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Janus Capital Management LLC boosted its stake in shares of People's United Financial by 86.2% in the first quarter. Janus Capital Management LLC now owns 3,574,254 shares of the bank’s stock worth $65,051,000 after buying an additional 1,654,567 shares during the period. HighTower Advisors LLC boosted its stake in shares of People's United Financial by 441.3% in the first quarter. HighTower Advisors LLC now owns 396,436 shares of the bank’s stock worth $7,207,000 after buying an additional 323,204 shares during the period. Fiduciary Trust Co. boosted its stake in shares of People's United Financial by 28.9% in the first quarter. Fiduciary Trust Co. now owns 16,933 shares of the bank’s stock worth $308,000 after buying an additional 3,799 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of People's United Financial during the first quarter worth approximately $578,000. Finally, Paloma Partners Management Co boosted its stake in shares of People's United Financial by 86.9% in the first quarter. Paloma Partners Management Co now owns 68,306 shares of the bank’s stock worth $1,243,000 after buying an additional 31,756 shares during the period. Hedge funds and other institutional investors own 80.80% of the company’s stock.

People's United Financial Company Profile

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.

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