Insider Selling: People's United Financial, Inc. (PBCT) Director Sells 10,000 Shares of Stock
People's United Financial, Inc. (NASDAQ:PBCT) Director Janet M. Hansen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $19.14, for a total value of $191,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
People's United Financial, Inc. (PBCT) traded down $0.30 during trading hours on Tuesday, reaching $18.95. The company had a trading volume of 2,550,601 shares, compared to its average volume of 2,913,427. People's United Financial, Inc. has a one year low of $15.97 and a one year high of $20.13. The stock has a market cap of $6,630.00, a price-to-earnings ratio of 19.70, a PEG ratio of 9.61 and a beta of 0.85. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.72.
People's United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $373.90 million for the quarter, compared to analyst estimates of $374.59 million. During the same quarter in the prior year, the firm posted $0.24 EPS. People's United Financial’s quarterly revenue was up 11.2% compared to the same quarter last year. analysts anticipate that People's United Financial, Inc. will post 0.98 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Glassman Wealth Services raised its holdings in 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 buying an additional 5,562 shares during the period. Ffcm LLC raised its holdings in 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 buying an additional 4,287 shares during the period. Advisory Services Network LLC raised its holdings in 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 buying an additional 226 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in 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 buying an additional 7,466 shares during the period. Finally, Federated Investors Inc. PA raised its holdings in 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 buying an additional 80 shares during the period. Institutional investors own 75.67% of the company’s stock.
Several analysts have recently issued reports on PBCT shares. Piper Jaffray Companies set a $16.00 price objective on People's United Financial and gave the stock a “sell” rating in a report on Thursday, August 17th. Jefferies Group reaffirmed a “hold” rating and set a $19.00 price objective on shares of People's United Financial in a report on Friday, August 18th. Finally, Zacks Investment Research raised People's United Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.19.
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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.
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