People's United Financial, Inc. (PBCT) Receives Average Recommendation of “Hold” from Analysts

Shares of People's United Financial, Inc. (NASDAQ:PBCT) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $19.29.

A number of brokerages have recently commented on PBCT. Sandler O’Neill set a $21.00 price target on People's United Financial and gave the company a “hold” rating in a research note on Thursday. BidaskClub raised People's United Financial from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised People's United Financial from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, December 5th. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $17.00 price target on shares of People's United Financial in a research note on Sunday, October 22nd. Finally, Barclays upped their price target on People's United Financial from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd.

Shares of People's United Financial (PBCT) traded up $0.65 during trading hours on Friday, reaching $20.08. The company’s stock had a trading volume of 6,000,000 shares, compared to its average volume of 2,590,000. The company has a market cap of $6,950.00, a PE ratio of 22.07, a P/E/G ratio of 7.91 and a beta of 0.85. People's United Financial has a 12-month low of $15.97 and a 12-month high of $20.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.98 and a quick ratio of 0.98.

People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The firm had revenue of $379.60 million during the quarter, compared to analysts’ expectations of $392.70 million. People's United Financial had a return on equity of 6.28% and a net margin of 19.32%. During the same period in the previous year, the business posted $0.25 EPS. sell-side analysts expect that People's United Financial will post 1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a $0.1725 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $0.69 annualized dividend and a dividend yield of 3.44%. People's United Financial’s dividend payout ratio is presently 75.82%.

In related news, CEO John P. Barnes sold 299,309 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.88, for a total value of $5,650,953.92. Following the completion of the transaction, the chief executive officer now directly owns 383,140 shares in the company, valued at approximately $7,233,683.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David K. Norton sold 108,194 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total value of $2,079,488.68. The disclosure for this sale can be found here. Insiders sold a total of 724,338 shares of company stock valued at $13,796,084 over the last quarter. 2.70% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC boosted its position 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 worth $137,000 after acquiring an additional 226 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position 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 worth $145,000 after acquiring an additional 7,466 shares during the last quarter. Federated Investors Inc. PA boosted its position 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 worth $171,000 after acquiring an additional 80 shares during the last quarter. Intl Fcstone Inc. acquired a new stake in shares of People's United Financial in the 2nd quarter valued at approximately $185,000. Finally, Franklin Resources Inc. acquired a new stake in shares of People's United Financial in the 2nd quarter valued at approximately $193,000. 75.52% of the stock is owned by hedge funds and other institutional investors.

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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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