Shares of People’s United Financial, Inc. (NASDAQ:PBCT) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $18.22.

Several brokerages have recently issued reports on PBCT. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price target on shares of People’s United Financial in a research report on Friday. Piper Jaffray Companies set a $16.00 price target on People’s United Financial and gave the company a “sell” rating in a research report on Thursday, August 17th. BidaskClub cut People’s United Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $17.75 price target (up from $17.50) on shares of People’s United Financial in a research report on Friday, July 7th.

ILLEGAL ACTIVITY NOTICE: “People’s United Financial, Inc. (PBCT) Receives Average Recommendation of “Hold” from Brokerages” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/22/peoples-united-financial-inc-pbct-receives-average-recommendation-of-hold-from-brokerages.html.

Shares of People’s United Financial (PBCT) traded up 0.72% on Tuesday, reaching $16.70. The company had a trading volume of 1,752,462 shares. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 18.68 and a beta of 0.82. The stock has a 50 day moving average price of $17.47 and a 200-day moving average price of $17.81. People’s United Financial has a 12 month low of $15.28 and a 12 month high of $20.13.

People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, July 20th. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by $0.04. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. The business had revenue of $366.50 million during the quarter, compared to analyst estimates of $357.16 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Analysts forecast that People’s United Financial will post $0.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a $0.1725 dividend. The ex-dividend date was Friday, July 28th. This represents a $0.69 annualized dividend and a dividend yield of 4.13%. People’s United Financial’s dividend payout ratio (DPR) is presently 77.53%.

In related news, Director Jerry Franklin sold 4,520 shares of People’s United Financial stock in a transaction on Tuesday, May 30th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert E. Trautmann sold 118,836 shares of People’s United Financial stock in a transaction 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 sale, the vice president now directly owns 70,323 shares of the company’s stock, valued at approximately $1,201,116.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,115 shares of company stock valued at $2,226,820. 2.70% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in PBCT. BlackRock Inc. boosted 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. Janus Henderson Group PLC boosted its stake in 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 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. State Street Corp boosted its stake in 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 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. 75.03% of the stock is owned by hedge funds and other institutional investors.

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)

Receive News & Ratings for People's United Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.