Community Bank N.A. bought a new stake in People's United Financial, Inc. (NASDAQ:PBCT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,176 shares of the bank’s stock, valued at approximately $115,000.
Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC boosted its holdings in shares of People's United Financial by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock valued at $137,000 after purchasing an additional 226 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of People's United Financial by 1,408.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 7,996 shares of the bank’s stock valued at $145,000 after purchasing an additional 7,466 shares in the last quarter. Intl Fcstone Inc. acquired a new stake in shares of People's United Financial in the 2nd quarter valued at $185,000. Aurora Investment Counsel bought a new position in shares of People's United Financial in the 4th quarter valued at $193,000. Finally, Tiedemann Wealth Management LLC bought a new position in shares of People's United Financial in the 3rd quarter valued at $199,000. 75.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on PBCT shares. Zacks Investment Research upgraded People's United Financial from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, November 1st. Barclays increased their price target on People's United Financial from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. BidaskClub cut People's United Financial from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Piper Jaffray Companies reiterated a “sell” rating and issued a $17.00 price target on shares of People's United Financial in a research note on Sunday, October 22nd. Finally, Sandler O’Neill set a $21.00 price target on People's United Financial and gave the company a “hold” rating in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.25.
People's United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, January 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The business had revenue of $379.60 million during the quarter, compared to analyst estimates of $392.70 million. People's United Financial had a return on equity of 6.69% and a net margin of 20.37%. During the same period last year, the company earned $0.25 EPS. sell-side analysts predict that People's United Financial, Inc. will post 1.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.65%. The ex-dividend date is Wednesday, January 31st. People's United Financial’s dividend payout ratio is currently 71.13%.
In related news, Director John K. Dwight sold 56,928 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.08, for a total transaction of $1,086,186.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO R David Rosato sold 6,040 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.18, for a total value of $115,847.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 402,362 shares of company stock valued at $7,770,854. 2.70% of the stock is owned by corporate insiders.
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.
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