People’s United Financial, Inc. (NASDAQ:PBCT) Director Mark W. Richards sold 26,732 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.89, for a total transaction of $504,967.48. Following the completion of the transaction, the director now owns 332,668 shares in the company, valued at $6,284,098.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

People’s United Financial, Inc. (NASDAQ PBCT) traded up 0.32% during mid-day trading on Tuesday, hitting $18.81. The stock had a trading volume of 3,650,301 shares. The stock’s 50-day moving average price is $17.64 and its 200-day moving average price is $17.41. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 21.04 and a beta of 0.84. People’s United Financial, Inc. has a 12 month low of $15.82 and a 12 month high of $20.13.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. People’s United Financial had a return on equity of 6.28% and a net margin of 19.32%. The business had revenue of $373.90 million for the quarter, compared to the consensus estimate of $374.59 million. During the same quarter in the previous year, the company posted $0.24 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that People’s United Financial, Inc. will post $0.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, October 31st. People’s United Financial’s dividend payout ratio is currently 75.83%.

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Several research firms recently weighed in on PBCT. Piper Jaffray Companies restated a “sell” rating and issued a $17.00 price objective on shares of People’s United Financial in a research report on Sunday. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. 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. Finally, BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.08.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glassman Wealth Services increased its position in shares of People’s United Financial by 4,150.7% during the 2nd quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock valued at $101,000 after purchasing an additional 5,562 shares during the last quarter. Ffcm LLC increased its position in shares of People’s United Financial by 208.3% during the 2nd quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock valued at $114,000 after purchasing an additional 4,287 shares during the last quarter. Advisory Services Network LLC increased its position in shares of People’s United Financial by 3.0% during the 2nd quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock valued at $137,000 after purchasing an additional 226 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of People’s United Financial by 1,408.7% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 7,996 shares of the bank’s stock valued at $145,000 after purchasing an additional 7,466 shares during the last quarter. Finally, Federated Investors Inc. PA increased its position in shares of People’s United Financial by 0.8% during the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after purchasing an additional 80 shares during the last quarter. 77.02% of the stock is currently 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.

Insider Buying and Selling by Quarter for People`s United Financial (NASDAQ:PBCT)

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