People’s United Financial (NASDAQ:PBCT) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of People’s United Financial (NASDAQ:PBCTGet Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the bank’s stock.

Several other research analysts also recently weighed in on PBCT. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, December 28th. Wells Fargo & Company decreased their price target on People’s United Financial from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, People’s United Financial presently has an average rating of “Hold” and an average price target of $19.56.

NASDAQ:PBCT opened at $19.41 on Thursday. The stock’s 50 day moving average price is $20.55 and its 200 day moving average price is $19.11. The company has a market capitalization of $8.34 billion, a PE ratio of 14.07 and a beta of 0.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. People’s United Financial has a 52-week low of $15.18 and a 52-week high of $21.98.

People’s United Financial (NASDAQ:PBCTGet Rating) last released its quarterly earnings results on Thursday, January 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. People’s United Financial had a return on equity of 8.51% and a net margin of 30.32%. The firm had revenue of $461.60 million for the quarter, compared to the consensus estimate of $472.60 million. During the same quarter last year, the business posted $0.35 EPS. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that People’s United Financial will post 1.22 EPS for the current fiscal year.

In related news, President Jeffrey J. Tengel sold 302,634 shares of People’s United Financial stock in a transaction on Thursday, February 3rd. The stock was sold at an average price of $19.78, for a total transaction of $5,986,100.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBCT. Cantor Fitzgerald Investment Advisor L.P increased its stake in People’s United Financial by 98.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 720,269 shares of the bank’s stock valued at $14,399,000 after purchasing an additional 357,160 shares during the last quarter. Sound Income Strategies LLC increased its stake in People’s United Financial by 12.4% in the first quarter. Sound Income Strategies LLC now owns 365,536 shares of the bank’s stock valued at $7,307,000 after purchasing an additional 40,196 shares during the last quarter. Trilogy Capital Inc. increased its stake in People’s United Financial by 18.4% in the first quarter. Trilogy Capital Inc. now owns 66,005 shares of the bank’s stock valued at $1,319,000 after purchasing an additional 10,264 shares during the last quarter. Pacer Advisors Inc. increased its stake in People’s United Financial by 308.4% in the first quarter. Pacer Advisors Inc. now owns 90,629 shares of the bank’s stock valued at $1,812,000 after purchasing an additional 68,439 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its stake in People’s United Financial by 33.9% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 50,052 shares of the bank’s stock valued at $892,000 after purchasing an additional 12,671 shares during the last quarter. 71.81% of the stock is owned by institutional investors.

About People’s United Financial (Get Rating)

People’s United Financial, Inc is a bank and financial holding company, which engages in the commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. It operates through the Commercial Banking and Retail Banking segments. The Commercial Banking segment offers commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending, and the equipment financing operations.

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