People’s United Financial, Inc. (PBCT) Stake Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,784 shares of the bank’s stock after buying an additional 10,038 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of People’s United Financial worth $4,058,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBCT. Mn Services Vermogensbeheer B.V. raised its position in People’s United Financial by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,076 shares of the bank’s stock valued at $137,000 after buying an additional 394 shares in the last quarter. Advisory Services Network LLC bought a new position in People’s United Financial during the first quarter valued at $137,000. Daiwa Securities Group Inc. raised its position in People’s United Financial by 19.2% in the first quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the bank’s stock valued at $158,000 after buying an additional 1,400 shares in the last quarter. Macquarie Group Ltd. raised its position in People’s United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock valued at $189,000 after buying an additional 2,000 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in People’s United Financial by 9.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,771 shares of the bank’s stock valued at $190,000 after buying an additional 968 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

People’s United Financial, Inc. (PBCT) traded down 1.00% during mid-day trading on Friday, hitting $16.82. 2,141,515 shares of the company traded hands. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 18.81 and a beta of 0.82. The company’s 50-day moving average is $17.57 and its 200-day moving average is $17.91. People’s United Financial, Inc. has a one year low of $15.27 and a one year high of $20.13.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.04. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. People’s United Financial’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Analysts predict that People’s United Financial, Inc. will post $0.93 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a dividend of $0.1725 per share. The ex-dividend date is Friday, July 28th. This represents a $0.69 dividend on an annualized basis and a yield of 4.10%. People’s United Financial’s payout ratio is 77.53%.

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Several research firms have weighed in on PBCT. BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods restated a “hold” rating on shares of People’s United Financial in a research note on Tuesday, May 9th. Zacks Investment Research upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Morgan Stanley upgraded shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $16.50 to $17.50 in a research note on Monday, June 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.25.

In related news, Director Jerry Franklin sold 4,520 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total transaction of $75,574.40. Following the transaction, the director now directly owns 97,249 shares in the company, valued at $1,626,003.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert E. Trautmann sold 118,836 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $17.08, for a total transaction of $2,029,718.88. Following the transaction, the vice president now owns 70,323 shares in the company, valued at $1,201,116.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,115 shares of company stock worth $2,226,820. 2.70% of the stock is owned by corporate insiders.

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.

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

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