People’s United Financial, Inc. (PBCT) Position Lifted by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 34.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 742,421 shares of the bank’s stock after buying an additional 191,708 shares during the period. Alliancebernstein L.P. owned approximately 0.21% of People’s United Financial worth $12,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ridgewood Investments LLC grew its position in People’s United Financial by 9.5% during the 3rd quarter. Ridgewood Investments LLC now owns 36,987 shares of the bank’s stock worth $633,000 after purchasing an additional 3,215 shares during the last quarter. Cadence Capital Management LLC grew its position in People’s United Financial by 7.9% during the 3rd quarter. Cadence Capital Management LLC now owns 44,971 shares of the bank’s stock worth $770,000 after purchasing an additional 3,307 shares during the last quarter. Tyers Asset Management LLC grew its position in People’s United Financial by 1.8% during the 2nd quarter. Tyers Asset Management LLC now owns 191,048 shares of the bank’s stock worth $3,456,000 after purchasing an additional 3,322 shares during the last quarter. Commonwealth Bank of Australia grew its position in People’s United Financial by 7.9% during the 3rd quarter. Commonwealth Bank of Australia now owns 46,395 shares of the bank’s stock worth $790,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its position in People’s United Financial by 1.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 217,235 shares of the bank’s stock worth $3,930,000 after purchasing an additional 3,906 shares during the last quarter. 73.67% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on PBCT shares. BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. ValuEngine downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, September 24th. Finally, Wells Fargo & Co set a $18.00 price objective on shares of People’s United Financial and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.21.

Shares of NASDAQ:PBCT opened at $16.14 on Friday. The stock has a market capitalization of $6.15 billion, a PE ratio of 15.52, a PEG ratio of 6.33 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. People’s United Financial, Inc. has a fifty-two week low of $15.04 and a fifty-two week high of $20.26.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The business had revenue of $398.70 million for the quarter, compared to the consensus estimate of $404.65 million. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, equities analysts predict that People’s United Financial, Inc. will post 1.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Wednesday, October 31st. People’s United Financial’s payout ratio is 67.31%.

In other news, VP Lee C. Powlus sold 48,200 shares of People’s United Financial stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $17.97, for a total value of $866,154.00. Following the sale, the vice president now owns 146,050 shares of the company’s stock, valued at $2,624,518.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by insiders.

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People’s United Financial Profile

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.

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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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