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

People's United Financial, Inc. (NASDAQ:PBCT) has received an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.95.

Several equities research analysts have recently commented on PBCT shares. Zacks Investment Research raised shares of 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 report on Tuesday, October 24th. BidaskClub raised shares of People's United Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Sandler O’Neill set a $21.00 target price on shares of People's United Financial and gave the stock a “hold” rating in a research report on Thursday, January 18th. Finally, Piper Jaffray Companies reissued a “sell” rating and set a $17.00 target price on shares of People's United Financial in a research report on Sunday, October 22nd.

In other People's United Financial news, VP Lee C. Powlus sold 5,715 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $19.79, for a total value of $113,099.85. Following the completion of the sale, the vice president now directly owns 95,857 shares of the company’s stock, valued at approximately $1,897,010.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David K. Norton sold 108,194 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total transaction of $2,079,488.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 402,362 shares of company stock valued at $7,770,854. 2.70% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH grew its position in People's United Financial by 2,532.0% in the 4th quarter. Allianz Asset Management GmbH now owns 492,995 shares of the bank’s stock worth $9,218,000 after purchasing an additional 474,264 shares in the last quarter. Amalgamated Bank grew its position in People's United Financial by 5.7% in the 4th quarter. Amalgamated Bank now owns 71,124 shares of the bank’s stock worth $1,330,000 after purchasing an additional 3,810 shares in the last quarter. Bank of Hawaii grew its position in People's United Financial by 8.8% in the 4th quarter. Bank of Hawaii now owns 49,069 shares of the bank’s stock worth $918,000 after purchasing an additional 3,970 shares in the last quarter. Brown Advisory Inc. bought a new stake in People's United Financial in the 4th quarter worth about $494,000. Finally, Estabrook Capital Management grew its position in People's United Financial by 4.0% in the 4th quarter. Estabrook Capital Management now owns 97,152 shares of the bank’s stock worth $1,817,000 after purchasing an additional 3,769 shares in the last quarter. 75.53% of the stock is owned by institutional investors and hedge funds.

People's United Financial (NASDAQ PBCT) traded up $0.16 on Tuesday, reaching $19.07. 2,095,300 shares of the company’s stock traded hands, compared to its average volume of 3,173,219. People's United Financial has a 12-month low of $15.97 and a 12-month high of $20.14. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6,547.62, a P/E ratio of 19.66, a P/E/G ratio of 7.41 and a beta of 0.87.

People's United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $379.60 million during the quarter, compared to the consensus estimate of $392.70 million. People's United Financial had a net margin of 20.37% and a return on equity of 6.69%. During the same period in the previous year, the firm posted $0.25 earnings per share. analysts forecast that People's United Financial will post 1.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, January 31st. People's United Financial’s payout ratio is presently 71.13%.

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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.

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

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