Brokerages Anticipate People’s United Financial, Inc. (NASDAQ:PBCT) Will Announce Earnings of $0.33 Per Share

Wall Street brokerages expect People’s United Financial, Inc. (NASDAQ:PBCT) to report earnings of $0.33 per share for the current quarter, Zacks reports. Four analysts have issued estimates for People’s United Financial’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.31. People’s United Financial reported earnings of $0.36 per share in the same quarter last year, which indicates a negative year over year growth rate of 8.3%. The company is expected to announce its next quarterly earnings report on Thursday, January 16th.

According to Zacks, analysts expect that People’s United Financial will report full year earnings of $1.35 per share for the current fiscal year, with EPS estimates ranging from $1.34 to $1.37. For the next year, analysts forecast that the company will post earnings of $1.39 per share, with EPS estimates ranging from $1.31 to $1.50. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $462.00 million for the quarter, compared to the consensus estimate of $452.39 million. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS.

A number of equities analysts have recently issued reports on PBCT shares. BidaskClub upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. DA Davidson restated a “buy” rating on shares of People’s United Financial in a research note on Wednesday, September 11th. Morgan Stanley dropped their price objective on shares of People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a research note on Thursday, September 5th. Finally, Stephens started coverage on shares of People’s United Financial in a research note on Tuesday, October 29th. They issued an “equal weight” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. People’s United Financial presently has a consensus rating of “Hold” and a consensus target price of $17.00.

In other news, EVP William M. Sheedy sold 21,164 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $179.41, for a total value of $3,797,033.24. Also, CFO R David Rosato sold 8,427 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.08, for a total transaction of $143,933.16. Following the completion of the sale, the chief financial officer now directly owns 107,223 shares in the company, valued at approximately $1,831,368.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 329,665 shares of company stock worth $8,946,819. 2.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. World Asset Management Inc grew its holdings in People’s United Financial by 2.0% during the 2nd quarter. World Asset Management Inc now owns 33,301 shares of the bank’s stock worth $559,000 after acquiring an additional 642 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in People’s United Financial by 2.2% during the 2nd quarter. New Mexico Educational Retirement Board now owns 32,188 shares of the bank’s stock worth $540,000 after acquiring an additional 700 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in People’s United Financial by 2.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 29,935 shares of the bank’s stock worth $468,000 after acquiring an additional 729 shares during the last quarter. Zeke Capital Advisors LLC grew its holdings in People’s United Financial by 3.1% during the 2nd quarter. Zeke Capital Advisors LLC now owns 25,385 shares of the bank’s stock worth $426,000 after acquiring an additional 752 shares during the last quarter. Finally, Washington Trust Bank grew its holdings in People’s United Financial by 4.2% during the 3rd quarter. Washington Trust Bank now owns 21,725 shares of the bank’s stock worth $340,000 after acquiring an additional 868 shares during the last quarter. 76.58% of the stock is currently owned by institutional investors and hedge funds.

PBCT stock traded up $0.04 during mid-day trading on Friday, hitting $16.96. 2,546,600 shares of the company were exchanged, compared to its average volume of 3,737,375. People’s United Financial has a twelve month low of $13.66 and a twelve month high of $18.03. The company has a market capitalization of $6.76 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 6.31 and a beta of 1.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $16.06 and a 200 day simple moving average of $16.03.

People’s United Financial announced that its board has authorized a stock buyback program on Thursday, July 18th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Wednesday, October 30th. People’s United Financial’s payout ratio is 54.20%.

About People’s United Financial

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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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