People’s United Financial, Inc. (NASDAQ:PBCT) has received an average rating of “Hold” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.22.

A number of research firms have recently commented on PBCT. Zacks Investment Research upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Monday. Piper Jaffray Companies restated a “sell” rating and set a $16.00 price objective on shares of People’s United Financial in a research note on Wednesday, October 4th. Jefferies Group LLC restated a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research note on Friday, August 18th. BidaskClub downgraded shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th.

In other People’s United Financial news, Director Janet M. Hansen sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the sale, the director now directly owns 145,707 shares in the company, valued at $2,497,417.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Hoyt sold 6,759 shares of the firm’s stock in a transaction that occurred on 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. Company insiders own 2.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of PBCT. Glassman Wealth Services lifted its position in People’s United Financial by 4,150.7% during the second quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock worth $101,000 after acquiring an additional 5,562 shares during the last quarter. Ffcm LLC lifted its position in People’s United Financial by 208.3% during the second quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock worth $114,000 after acquiring an additional 4,287 shares during the last quarter. Advisory Services Network LLC lifted its position in People’s United Financial by 3.0% during the second quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock worth $137,000 after acquiring an additional 226 shares during the last quarter. Federated Investors Inc. PA lifted its position in People’s United Financial by 0.8% during the second quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock worth $171,000 after acquiring an additional 80 shares during the last quarter. Finally, Intl Fcstone Inc. acquired a new stake in People’s United Financial during the second quarter worth approximately $185,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

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Shares of People’s United Financial (NASDAQ:PBCT) traded down 0.22% during mid-day trading on Wednesday, hitting $18.28. The company’s stock had a trading volume of 1,737,305 shares. The company has a 50-day moving average price of $17.22 and a 200-day moving average price of $17.39. The stock has a market cap of $6.17 billion, a PE ratio of 20.45 and a beta of 0.84. People’s United Financial has a 1-year low of $15.28 and a 1-year high of $20.13.

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

People’s United Financial Company Profile

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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