People’s United Financial, Inc. (NASDAQ:PBCT) Receives Average Recommendation of “Hold” from Analysts

People’s United Financial, Inc. (NASDAQ:PBCTGet Rating) has earned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.56.

PBCT has been the topic of several research reports. StockNews.com started coverage on shares of People’s United Financial in a research note on Friday, April 22nd. They set a “hold” rating on the stock. Wells Fargo & Company decreased their target price on shares of People’s United Financial from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 4th. Finally, Zacks Investment Research upgraded shares of People’s United Financial from a “sell” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, December 28th.

PBCT opened at $19.41 on Wednesday. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 14.07 and a beta of 0.95. People’s United Financial has a fifty-two week low of $15.18 and a fifty-two week high of $21.98. The company’s 50-day moving average price is $20.27 and its 200 day moving average price is $19.22. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20.

In other news, President Jeffrey J. Tengel sold 302,634 shares of the stock in a transaction that occurred on Thursday, February 3rd. The shares were sold at an average price of $19.78, for a total value of $5,986,100.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

A number of large investors have recently modified their holdings of PBCT. Glazer Capital LLC bought a new stake in People’s United Financial during the fourth quarter worth approximately $85,175,000. Norges Bank bought a new stake in People’s United Financial during the fourth quarter worth approximately $76,305,000. Citigroup Inc. lifted its position in shares of People’s United Financial by 146.8% in the 3rd quarter. Citigroup Inc. now owns 6,956,029 shares of the bank’s stock valued at $121,521,000 after acquiring an additional 4,137,269 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of People’s United Financial in the 3rd quarter valued at approximately $47,202,000. Finally, Bank of Montreal Can lifted its position in shares of People’s United Financial by 283.7% in the 4th quarter. Bank of Montreal Can now owns 3,319,096 shares of the bank’s stock valued at $58,748,000 after acquiring an additional 2,454,053 shares in the last quarter. Hedge funds and other institutional investors own 71.81% of the company’s stock.

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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