Brokerages expect People’s United Financial, Inc. (NASDAQ:PBCT) to report sales of $381.80 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for People’s United Financial’s earnings, with the highest sales estimate coming in at $386.10 million and the lowest estimate coming in at $377.50 million. People’s United Financial reported sales of $336.10 million in the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The firm is scheduled to report its next quarterly earnings report on Thursday, October 19th.

On average, analysts expect that People’s United Financial will report full-year sales of $381.80 million for the current year, with estimates ranging from $1.47 billion to $1.51 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.63 billion per share, with estimates ranging from $1.61 billion to $1.65 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.04. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.23 EPS.

A number of equities analysts have recently weighed in on PBCT shares. Morgan Stanley raised shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $16.50 to $17.50 in a research report on Monday, June 5th. They noted that the move was a valuation call. 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 Friday, June 9th. BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research lowered shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Piper Jaffray Companies set a $16.00 price objective on shares of People’s United Financial and gave the stock a “sell” rating in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. People’s United Financial has a consensus rating of “Hold” and a consensus price target of $18.38.

In other news, insider Jeffrey Hoyt sold 6,759 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of PBCT. BlackRock Inc. boosted its stake in People’s United Financial by 2,026.9% during 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. Janus Henderson Group PLC raised its holdings 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 valued at $74,389,000 after buying an additional 4,168,800 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 last quarter. State Street Corp raised its holdings 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 valued at $705,843,000 after buying an additional 2,316,636 shares during the last quarter. Finally, Janus Capital Management LLC raised its holdings 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 last quarter. Hedge funds and other institutional investors own 77.02% of the company’s stock.

Shares of People’s United Financial (NASDAQ:PBCT) opened at 16.25 on Friday. The firm has a market cap of $5.48 billion, a P/E ratio of 18.18 and a beta of 0.82. People’s United Financial has a one year low of $15.28 and a one year high of $20.13. The stock’s 50 day moving average is $17.03 and its 200-day moving average is $17.62.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 4.25%. The ex-dividend date was Friday, July 28th. People’s United Financial’s payout ratio is presently 77.53%.

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

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