People’s United Financial, Inc. (NASDAQ:PBCT) – Equities research analysts at Jefferies Group increased their Q3 2017 earnings per share (EPS) estimates for People’s United Financial in a research report issued to clients and investors on Friday. Jefferies Group analyst C. Haire now forecasts that the bank will earn $0.25 per share for the quarter, up from their prior forecast of $0.24.

A number of other brokerages have also weighed in on PBCT. Morgan Stanley reaffirmed an “equal weight” rating and issued a $17.75 price objective (up previously from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a report on Thursday, April 6th. BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Finally, Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, March 27th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $18.25.

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Shares of People’s United Financial (PBCT) opened at 17.51 on Monday. People’s United Financial has a 52-week low of $14.79 and a 52-week high of $20.13. The firm has a 50-day moving average of $17.51 and a 200 day moving average of $18.11. The firm has a market cap of $5.91 billion, a PE ratio of 19.54 and a beta of 0.82.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.04. The company 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 6.31%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in 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 worth $598,816,000 after buying an additional 3,027,697 shares during the last quarter. BlackRock Inc. increased its stake 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 during the last quarter. Wells Fargo & Company MN increased its stake in 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 worth $320,768,000 after buying an additional 1,688,826 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in People’s United Financial by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,291,294 shares of the bank’s stock worth $150,905,000 after buying an additional 86,006 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in People’s United Financial by 6.5% in the first quarter. Epoch Investment Partners Inc. now owns 7,675,306 shares of the bank’s stock worth $139,691,000 after buying an additional 468,778 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

In other 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 transaction 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 approximately $1,201,116.84. The transaction was disclosed in a legal filing with the SEC, 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 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 currently owned by company insiders.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.1725 per share. The ex-dividend date is Friday, July 28th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.94%. People’s United Financial’s payout ratio is 77.53%.

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.

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

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