People's United Financial (PBCT) Rating Lowered to Sell at BidaskClub

People's United Financial (NASDAQ:PBCT) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on the company. Zacks Investment Research upgraded People's United Financial from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday. Barclays raised their target price on People's United Financial from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Piper Jaffray Companies restated a “sell” rating and issued a $17.00 target price on shares of People's United Financial in a research note on Sunday, October 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.04.

Shares of People's United Financial (NASDAQ:PBCT) traded up $0.10 on Friday, hitting $18.94. The stock had a trading volume of 2,130,000 shares, compared to its average volume of 2,650,000. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $6,590.00, a P/E ratio of 20.81, a PEG ratio of 8.42 and a beta of 0.85. People's United Financial has a 12 month low of $15.97 and a 12 month high of $19.85.

People's United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The company had revenue of $373.90 million during the quarter, compared to the consensus estimate of $374.59 million. People's United Financial had a return on equity of 6.28% and a net margin of 19.32%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. equities research analysts predict that People's United Financial will post 1 earnings per share for the current fiscal year.

In other People's United Financial news, Director Janet M. Hansen sold 10,000 shares of People's United Financial stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $19.14, for a total transaction of $191,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey J. Tengel sold 173,685 shares of People's United Financial stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $19.32, for a total value of $3,355,594.20. The disclosure for this sale can be found here. Insiders have sold a total of 724,338 shares of company stock valued at $13,796,084 in the last quarter. Company insiders own 2.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PBCT. Advisory Services Network LLC boosted its stake 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 purchasing an additional 226 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake 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 purchasing an additional 7,466 shares during the last quarter. Federated Investors Inc. PA boosted its stake 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 purchasing an additional 80 shares during the last quarter. Intl Fcstone Inc. acquired a new position in People's United Financial during the 2nd quarter valued at about $185,000. Finally, Franklin Resources Inc. bought a new position in shares of People's United Financial during the 2nd quarter worth approximately $193,000. Institutional investors and hedge funds own 75.52% of the company’s stock.

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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.

Analyst Recommendations for People's United Financial (NASDAQ:PBCT)

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