People’s United Financial, Inc. (NASDAQ:PBCT) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

A number of other brokerages also recently weighed in on PBCT. Sandler O’Neill upgraded People’s United Financial from a “sell” rating to a “hold” rating and lifted their target price for the stock from $17.00 to $19.50 in a report on Friday, March 10th. Zacks Investment Research upgraded People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, March 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 target price on shares of People’s United Financial in a report on Thursday, April 6th. Finally, Morgan Stanley upgraded People’s United Financial from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $16.50 to $17.50 in a report on Monday, June 5th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. People’s United Financial presently has an average rating of “Hold” and a consensus price target of $18.22.

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

Shares of People’s United Financial (NASDAQ:PBCT) traded up 0.06% during trading on Friday, hitting $17.22. The company had a trading volume of 3,570,596 shares. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 18.58 and a beta of 0.81. The stock has a 50-day moving average of $17.17 and a 200 day moving average of $18.36. People’s United Financial has a 12-month low of $13.80 and a 12-month high of $20.13.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, April 20th. The bank reported $0.22 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.22. The business had revenue of $342.80 million during the quarter, compared to the consensus estimate of $336.29 million. People’s United Financial had a return on equity of 5.98% and a net margin of 19.46%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. On average, analysts predict that People’s United Financial will post $0.95 EPS for the current fiscal year.

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In other People’s United Financial news, VP Robert E. Trautmann sold 118,836 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $17.08, for a total value of $2,029,718.88. Following the completion of the sale, the vice president now owns 70,323 shares of the company’s stock, valued at $1,201,116.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerry Franklin sold 4,520 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total value of $75,574.40. Following the completion of the sale, the director now directly owns 97,249 shares of the company’s stock, valued at approximately $1,626,003.28. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in shares of People’s United Financial by 30.7% in the first quarter. Public Employees Retirement System of Ohio now owns 133,013 shares of the bank’s stock worth $2,421,000 after buying an additional 31,248 shares during the period. Achmea Investment Management B.V. purchased a new stake in shares of People’s United Financial during the first quarter worth approximately $2,049,000. Bank of Nova Scotia purchased a new stake in shares of People’s United Financial during the first quarter worth approximately $1,187,000. 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. Finally, 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. 76.83% of the stock is owned by hedge funds and other institutional investors.

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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