People’s United Financial, Inc. (NASDAQ:PBCT) declared a quarterly dividend on Thursday, July 20th, RTT News reports. Stockholders of record on Tuesday, August 1st will be given a dividend of 0.1725 per share by the bank on Tuesday, August 15th. This represents a $0.69 annualized dividend and a dividend yield of 3.91%.
People’s United Financial has increased its dividend by an average of 1.5% annually over the last three years and has raised its dividend every year for the last 10 years. People’s United Financial has a payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Analysts expect People’s United Financial to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.69 annual dividend with an expected future payout ratio of 63.9%.
People’s United Financial (NASDAQ:PBCT) traded up 0.11% on Thursday, hitting $17.64. The stock had a trading volume of 3,525,017 shares. People’s United Financial has a 1-year low of $14.79 and a 1-year high of $20.13. The firm has a market cap of $5.48 billion, a P/E ratio of 19.03 and a beta of 0.82. The firm’s 50-day moving average price is $17.48 and its 200-day moving average price is $18.11.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, April 20th. The bank reported $0.22 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.22. People’s United Financial had a return on equity of 5.98% and a net margin of 19.46%. The firm had revenue of $342.80 million during the quarter, compared to analysts’ expectations of $336.29 million. During the same period last year, the firm posted $0.21 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that People’s United Financial will post $0.94 earnings per share for the current year.
A number of research firms recently weighed in on PBCT. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of People’s United Financial in a report on Monday, July 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $17.75 price target (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.25.
In related news, Director Jerry Franklin sold 4,520 shares of People’s United Financial stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total transaction of $75,574.40. Following the completion of the sale, the director now directly owns 97,249 shares of the company’s stock, valued at $1,626,003.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert E. Trautmann sold 118,836 shares of People’s United Financial stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $17.08, for a total value of $2,029,718.88. Following the sale, the vice president now directly owns 70,323 shares of the company’s stock, valued at $1,201,116.84. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
TRADEMARK VIOLATION WARNING: “People’s United Financial, Inc. to Issue Quarterly Dividend of $0.17 (NASDAQ:PBCT)” was first published by BNB Daily and is owned by of BNB Daily. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.baseball-news-blog.com/2017/07/20/peoples-united-financial-inc-to-issue-quarterly-dividend-of-0-17-nasdaqpbct.html.
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.