People’s United Financial, Inc. (NASDAQ:PBCT) Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of People’s United Financial, Inc. (NASDAQ:PBCT) from a sell rating to a strong sell rating in a research report report published on Monday, July 24th.

PBCT has been the subject of several other reports. 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 for the company in a research note on Monday, March 27th. Keefe, Bruyette & Woods reissued a hold rating and set a $19.00 target price on shares of People’s United Financial in a research note on Thursday, April 6th. Finally, Morgan Stanley restated an equal weight rating and issued a $17.75 price objective (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Three equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $18.48.

People’s United Financial (NASDAQ:PBCT) opened at 16.63 on Monday. People’s United Financial has a 1-year low of $15.27 and a 1-year high of $20.13. The stock has a 50 day moving average of $17.50 and a 200-day moving average of $17.84. The company has a market cap of $5.61 billion, a PE ratio of 18.60 and a beta of 0.82.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.04. The company had revenue of $366.50 million for the quarter, compared to the consensus estimate of $357.16 million. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. On average, equities research analysts predict that People’s United Financial will post $0.93 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 4.15%. The ex-dividend date was Friday, July 28th. People’s United Financial’s dividend payout ratio is currently 77.53%.

In other People’s United Financial news, VP Robert E. Trautmann sold 118,836 shares of the firm’s 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 completion of the sale, the vice president now directly owns 70,323 shares of the company’s stock, valued at approximately $1,201,116.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry Franklin sold 4,520 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 130,115 shares of company stock valued at $2,226,820. 2.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Benedict Financial Advisors Inc. boosted its position in shares of People’s United Financial by 0.3% in the second quarter. Benedict Financial Advisors Inc. now owns 15,537 shares of the bank’s stock worth $272,000 after buying an additional 47 shares during the period. Raymond James Trust N.A. boosted its position in shares of People’s United Financial by 0.3% in the first quarter. Raymond James Trust N.A. now owns 27,053 shares of the bank’s stock worth $493,000 after buying an additional 74 shares during the period. Federated Investors Inc. PA boosted its position in shares of People’s United Financial by 0.8% in the second quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock worth $171,000 after buying an additional 80 shares during the period. ING Groep NV boosted its position in shares of People’s United Financial by 0.5% in the second quarter. ING Groep NV now owns 17,637 shares of the bank’s stock worth $311,000 after buying an additional 94 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in shares of People’s United Financial by 0.8% in the second quarter. Contravisory Investment Management Inc. now owns 13,274 shares of the bank’s stock worth $234,000 after buying an additional 104 shares during the period. Institutional investors own 75.03% of the company’s stock.

People’s United Financial Company Profile

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.

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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