Wall Street analysts expect People’s United Financial, Inc. (NASDAQ:PBCT) to post sales of $358.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for People’s United Financial’s earnings, with the highest sales estimate coming in at $364.80 million and the lowest estimate coming in at $351.20 million. People’s United Financial posted sales of $325.40 million during 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 earnings report after the market closes on Thursday, July 20th.

According to Zacks, analysts expect that People’s United Financial will report full-year sales of $358.00 million for the current financial year, with estimates ranging from $1.44 billion to $1.51 billion. For the next financial year, analysts anticipate that the company will report sales of $1.60 billion per share, with estimates ranging from $1.57 billion to $1.62 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, April 20th. The bank reported $0.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.22. The company had revenue of $342.80 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS.

Several brokerages have recently commented on PBCT. Morgan Stanley reiterated an “equal weight” rating and set a $17.75 price objective (up previously from $17.50) on shares of People’s United Financial in a report on Friday. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 price target on shares of People’s United Financial in a research note on Friday, June 9th. BidaskClub lowered shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Finally, Sandler O’Neill raised 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 research report on Friday, March 10th. Three investment analysts have rated the stock with a sell rating and nine 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 $18.25.

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

Several hedge funds have recently added to or reduced their stakes in PBCT. Norges Bank bought a new stake in People’s United Financial during the fourth quarter worth approximately $49,250,000. Washington Trust Bank acquired a new position in shares of People’s United Financial during the first quarter valued at about $330,000. Aberdeen Asset Management PLC UK boosted its position in shares of People’s United Financial by 2.9% in the first quarter. Aberdeen Asset Management PLC UK now owns 95,564 shares of the bank’s stock valued at $1,740,000 after buying an additional 2,659 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of People’s United Financial by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 373,474 shares of the bank’s stock valued at $7,230,000 after buying an additional 21,354 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of People’s United Financial by 13.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 299,799 shares of the bank’s stock valued at $5,457,000 after buying an additional 35,740 shares in the last quarter. Institutional investors own 76.83% of the company’s stock.

People’s United Financial (PBCT) opened at 17.86 on Friday. The stock has a 50 day moving average price of $17.15 and a 200-day moving average price of $18.27. The stock has a market cap of $5.55 billion, a PE ratio of 19.27 and a beta of 0.82. People’s United Financial has a 1-year low of $14.22 and a 1-year high of $20.13.

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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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