People’s United Financial, Inc. (NASDAQ:PBCT) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Monday.

PBCT has been the topic of a number of other research reports. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a report on Monday, July 10th. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $17.75 target price (up previously from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.25.

People’s United Financial (NASDAQ PBCT) traded up 0.86% during trading on Monday, reaching $17.66. 2,492,702 shares of the company’s stock traded hands. The stock has a market capitalization of $5.96 billion, a P/E ratio of 19.71 and a beta of 0.82. People’s United Financial has a 12 month low of $14.79 and a 12 month high of $20.13. The company has a 50-day moving average of $17.56 and a 200 day moving average of $18.07.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $366.50 million during the quarter, compared to analyst estimates of $357.16 million. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. People’s United Financial’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, equities research analysts expect that People’s United Financial will post $0.94 earnings per share for the current fiscal year.

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In related news, VP Robert E. Trautmann sold 118,836 shares of the 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 transaction, the vice president now 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 at this link. Also, Director Jerry Franklin sold 4,520 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total value of $75,574.40. Following the completion of the transaction, the director now owns 97,249 shares in the company, valued at approximately $1,626,003.28. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in People’s United Financial by 2,026.9% in the first quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock worth $486,681,000 after buying an additional 25,483,451 shares in the last quarter. Vanguard Group Inc. increased its position in shares of People’s United Financial by 10.1% in the first quarter. Vanguard Group Inc. now owns 32,902,001 shares of the bank’s stock valued at $598,816,000 after buying an additional 3,027,697 shares during the period. Wells Fargo & Company MN increased its position in shares of People’s United Financial by 10.6% in the first quarter. Wells Fargo & Company MN now owns 17,624,604 shares of the bank’s stock valued at $320,768,000 after buying an additional 1,688,826 shares during the period. Janus Capital Management LLC increased its position 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 valued at $65,051,000 after buying an additional 1,654,567 shares during the period. Finally, First Trust Advisors LP increased its position in shares of People’s United Financial by 80.7% in the first quarter. First Trust Advisors LP now owns 2,601,590 shares of the bank’s stock valued at $47,349,000 after buying an additional 1,162,108 shares during the period. Hedge funds and other institutional investors own 76.12% of the company’s stock.

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.

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

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