People’s United Financial, Inc. (NASDAQ:PBCT) received a $16.00 price objective from analysts at Piper Jaffray Companies in a research note issued on Thursday. The firm presently has a “sell” rating on the bank’s stock. Piper Jaffray Companies’ price target indicates a potential downside of 3.79% from the stock’s previous close.

A number of other analysts also recently commented on PBCT. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a report on Friday, June 9th. BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Morgan Stanley reissued 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, July 7th. Three investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.48.

People’s United Financial (NASDAQ PBCT) remained flat at $16.63 on Thursday. The stock had a trading volume of 2,014,243 shares. The company has a market capitalization of $5.61 billion, a PE ratio of 18.60 and a beta of 0.82. The company’s 50 day moving average is $17.50 and its 200-day moving average is $17.84. People’s United Financial has a 52 week low of $15.28 and a 52 week high of $20.13.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Equities research analysts expect that People’s United Financial will post $0.93 earnings per share for the current year.

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In other People’s United Financial news, Director Jerry Franklin sold 4,520 shares of People’s United Financial stock in a transaction dated 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 transaction, the director now owns 97,249 shares in the company, valued at $1,626,003.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Hoyt sold 6,759 shares of People’s United Financial stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,115 shares of company stock valued at $2,226,820. 2.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of 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. Janus Henderson Group PLC boosted its position in shares of People’s United Financial by 9,587.6% in the second quarter. Janus Henderson Group PLC now owns 4,212,281 shares of the bank’s stock worth $74,389,000 after buying an additional 4,168,800 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $598,816,000 after buying an additional 3,027,697 shares during the last quarter. State Street Corp boosted its position in shares of People’s United Financial by 6.2% in the second quarter. State Street Corp now owns 39,968,330 shares of the bank’s stock worth $705,843,000 after buying an additional 2,316,636 shares during the last quarter. Finally, Wells Fargo & Company MN boosted 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 worth $320,768,000 after buying an additional 1,688,826 shares during the last quarter. Institutional investors own 75.03% 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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