People’s United Financial (NASDAQ:PBCT) Research Coverage Started at StockNews.com

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

Other analysts also recently issued reports about the company. 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 reduced their target price on People’s United Financial from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, People’s United Financial presently has a consensus rating of “Hold” and a consensus price target of $19.56.

Shares of NASDAQ PBCT opened at $19.41 on Friday. The stock’s 50-day simple moving average is $20.40 and its two-hundred day simple moving average is $19.17. People’s United Financial has a twelve month low of $15.18 and a twelve month high of $21.98. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $8.34 billion, a P/E ratio of 14.07 and a beta of 0.95.

People’s United Financial (NASDAQ:PBCTGet Rating) last released its quarterly earnings results on Thursday, January 20th. The bank reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $461.60 million during the quarter, compared to analyst estimates of $472.60 million. People’s United Financial had a return on equity of 8.51% and a net margin of 30.32%. People’s United Financial’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 EPS. As a group, research 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 the firm’s stock in a transaction on Thursday, February 3rd. The stock was sold at an average price of $19.78, for a total value of $5,986,100.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA grew its position in shares of People’s United Financial by 0.6% during the 4th quarter. Glenmede Trust Co. NA now owns 89,498 shares of the bank’s stock valued at $1,594,000 after acquiring an additional 495 shares during the period. NEXT Financial Group Inc raised its position in shares of People’s United Financial by 12.3% during the 4th quarter. NEXT Financial Group Inc now owns 4,881 shares of the bank’s stock valued at $87,000 after buying an additional 535 shares during the period. CWM LLC increased its holdings in People’s United Financial by 39.4% in the 1st quarter. CWM LLC now owns 2,153 shares of the bank’s stock valued at $43,000 after purchasing an additional 608 shares during the last quarter. Charter Research & Investment Group Inc. grew its stake in shares of People’s United Financial by 0.7% in the fourth quarter. Charter Research & Investment Group Inc. now owns 91,327 shares of the bank’s stock worth $1,627,000 after acquiring an additional 617 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of People’s United Financial by 18.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,977 shares of the bank’s stock worth $71,000 after acquiring an additional 625 shares in the last quarter. Hedge funds and other institutional investors own 71.81% of the company’s stock.

People’s United Financial Company Profile (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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