Q3 2017 EPS Estimates for People’s United Financial, Inc. Lifted by Analyst (NASDAQ:PBCT)

People’s United Financial, Inc. (NASDAQ:PBCT) – Analysts at Jefferies Group boosted their Q3 2017 earnings per share (EPS) estimates for shares of People’s United Financial in a research note issued to investors on Friday. Jefferies Group analyst C. Haire now expects that the bank will post earnings per share of $0.25 for the quarter, up from their prior forecast of $0.24.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share.

TRADEMARK VIOLATION WARNING: This report was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.com-unik.info/2017/08/19/q3-2017-eps-estimates-for-peoples-united-financial-inc-lifted-by-analyst-nasdaqpbct-updated-updated-updated.html.

A number of other research firms have also recently weighed in on PBCT. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, March 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 target price on shares of People’s United Financial in a research note on Thursday, April 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $17.75 target price (up from $17.50) on shares of People’s United Financial in a research note on Friday, July 7th. Finally, BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. People’s United Financial currently has an average rating of “Hold” and an average target price of $18.25.

People’s United Financial (NASDAQ:PBCT) opened at 17.66 on Monday. People’s United Financial has a 12-month low of $14.79 and a 12-month high of $20.13. The stock has a market capitalization of $5.96 billion, a PE ratio of 19.71 and a beta of 0.82. The stock’s 50 day moving average price is $17.56 and its 200-day moving average price is $18.07.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a $0.1725 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.69 annualized dividend and a yield of 3.91%. People’s United Financial’s payout ratio is currently 77.53%.

In related news, VP Robert E. Trautmann sold 118,836 shares of the company’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 transaction, the vice president now directly owns 70,323 shares in the company, valued at $1,201,116.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry Franklin sold 4,520 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total value of $75,574.40. Following the completion of the transaction, the director now owns 97,249 shares of the company’s stock, valued at $1,626,003.28. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

A number of large investors have recently made changes to their positions in PBCT. Federated Investors Inc. PA purchased a new stake in shares of People’s United Financial during the fourth quarter valued at approximately $184,000. FMR LLC raised its stake in shares of People’s United Financial by 1.3% in the fourth quarter. FMR LLC now owns 153,788 shares of the bank’s stock valued at $2,977,000 after buying an additional 1,932 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of People’s United Financial by 218.7% in the fourth quarter. Renaissance Technologies LLC now owns 80,628 shares of the bank’s stock valued at $1,561,000 after buying an additional 55,328 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of People’s United Financial by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,800 shares of the bank’s stock valued at $209,000 after buying an additional 640 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of People’s United Financial during the fourth quarter valued at approximately $3,411,000. Institutional investors own 76.12% of the company’s stock.

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.

Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

What are top analysts saying about People's United Financial Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for People's United Financial Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit