Equities analysts predict that People’s United Financial, Inc. (NASDAQ:PBCT) will post sales of $383.98 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for People’s United Financial’s earnings, with the highest sales estimate coming in at $388.33 million and the lowest estimate coming in at $377.50 million. People’s United Financial reported sales of $336.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.2%. The company is expected to report its next earnings results after the market closes on Thursday, October 19th.

According to Zacks, analysts expect that People’s United Financial will report full-year sales of $383.98 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 company will post sales of $1.64 billion per share, with estimates ranging from $1.61 billion to $1.65 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last announced its 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). 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 analysts’ expectations of $357.16 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year.

PBCT has been the subject of a number of research analyst reports. BidaskClub lowered shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, September 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. Morgan Stanley reaffirmed 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 research report on Friday, July 7th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $18.75.

In related news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet M. Hansen sold 12,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the transaction, the director now directly owns 145,707 shares of the company’s stock, valued at approximately $2,497,417.98. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

A number of large investors have recently bought and sold shares of PBCT. BlackRock Inc. raised its position 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 purchasing an additional 25,483,451 shares in the last quarter. Janus Henderson Group PLC grew its stake in People’s United Financial by 9,587.6% during 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. grew its stake in People’s United Financial by 10.1% during 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 grew its stake in People’s United Financial by 6.2% during 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, Janus Capital Management LLC grew its stake in People’s United Financial by 86.2% during the first quarter. Janus Capital Management LLC now owns 3,574,254 shares of the bank’s stock worth $65,051,000 after buying an additional 1,654,567 shares during the last quarter. 77.19% of the stock is owned by hedge funds and other institutional investors.

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Shares of People’s United Financial (NASDAQ:PBCT) traded up 0.580% during mid-day trading on Wednesday, hitting $18.195. The stock had a trading volume of 363,151 shares. The firm’s 50 day moving average price is $17.37 and its 200-day moving average price is $17.39. People’s United Financial has a one year low of $15.38 and a one year high of $20.13. The company has a market cap of $6.14 billion, a PE ratio of 20.352 and a beta of 0.84.

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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