Jefferies Group LLC raised its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 91.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,221 shares of the bank’s stock after acquiring an additional 166,984 shares during the period. Jefferies Group LLC owned approximately 0.10% of People’s United Financial worth $5,996,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of People’s United Financial during the third quarter worth $715,000. Capital Fund Management S.A. increased its holdings in shares of People’s United Financial by 98.2% during the third quarter. Capital Fund Management S.A. now owns 183,700 shares of the bank’s stock worth $3,145,000 after buying an additional 91,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of People’s United Financial by 14.8% during the third quarter. Renaissance Technologies LLC now owns 1,161,600 shares of the bank’s stock worth $19,887,000 after buying an additional 149,814 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of People’s United Financial by 63.3% during the third quarter. JPMorgan Chase & Co. now owns 1,405,128 shares of the bank’s stock worth $24,055,000 after buying an additional 544,832 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in shares of People’s United Financial during the third quarter worth $1,391,000. Institutional investors own 73.67% of the company’s stock.
Several research analysts have recently issued reports on PBCT shares. BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. ValuEngine downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, September 24th. Finally, Wells Fargo & Co set a $18.00 price target on shares of People’s United Financial and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $20.21.
In related news, VP Lee C. Powlus sold 48,200 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $17.97, for a total value of $866,154.00. Following the completion of the sale, the vice president now directly owns 146,050 shares in the company, valued at $2,624,518.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.
NASDAQ PBCT opened at $16.14 on Friday. The firm has a market capitalization of $6.14 billion, a P/E ratio of 12.92, a P/E/G ratio of 6.32 and a beta of 0.96. People’s United Financial, Inc. has a twelve month low of $15.04 and a twelve month high of $20.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95.
People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.33. The business had revenue of $398.70 million during the quarter, compared to the consensus estimate of $404.65 million. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. During the same period in the prior year, the business posted $0.26 earnings per share. On average, sell-side analysts anticipate that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were issued a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.34%. People’s United Financial’s payout ratio is 67.31%.
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People’s United Financial Company 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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