People’s United Financial, Inc. (NASDAQ:PBCT) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS
People’s United Financial, Inc. (NASDAQ:PBCT) issued its quarterly earnings results on Thursday. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by $0.04, Briefing.com reports. People’s United Financial had a return on equity of 5.98% and a net margin of 19.46%. The company had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. During the same period last year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis.
People’s United Financial (NASDAQ PBCT) traded up 0.11% during midday trading on Thursday, hitting $17.64. 3,525,017 shares of the stock traded hands. People’s United Financial has a 1-year low of $14.79 and a 1-year high of $20.13. The company has a 50-day moving average price of $17.51 and a 200-day moving average price of $18.11. The firm has a market cap of $5.48 billion, a P/E ratio of 19.03 and a beta of 0.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.91%. People’s United Financial’s payout ratio is currently 74.19%.
Several brokerages recently commented on PBCT. Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, March 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.00 price target on shares of People’s United Financial in a research report on Thursday, April 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $17.75 price target (up previously from $17.50) on shares of People’s United Financial in a research report on Friday, July 7th. Finally, BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. People’s United Financial currently has an average rating of “Hold” and a consensus target price of $18.25.
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In other People’s United Financial news, VP Robert E. Trautmann sold 118,836 shares of People’s United Financial stock in a transaction that occurred on Thursday, June 8th. The shares were 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 directly owns 70,323 shares in the company, valued at $1,201,116.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jerry Franklin sold 4,520 shares of People’s United Financial stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total transaction of $75,574.40. Following the completion of the sale, the director now owns 97,249 shares of the company’s stock, valued at $1,626,003.28. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
About People’s United Financial
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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