Zacks: Brokerages Anticipate People’s United Financial, Inc. (PBCT) to Post $0.34 Earnings Per Share

Wall Street brokerages forecast that People’s United Financial, Inc. (NASDAQ:PBCT) will announce earnings of $0.34 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for People’s United Financial’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.35. People’s United Financial posted earnings per share of $0.30 in the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The business is expected to issue its next earnings results on Thursday, January 17th.

According to Zacks, analysts expect that People’s United Financial will report full year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.28 to $1.30. For the next financial year, analysts expect that the company will report earnings of $1.43 per share, with EPS estimates ranging from $1.36 to $1.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $398.70 million during the quarter, compared to analyst estimates of $404.65 million. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. During the same quarter in the prior year, the business earned $0.26 earnings per share.

PBCT has been the subject of a number of analyst reports. Zacks Investment Research upgraded People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, September 24th. Wells Fargo & Co set a $18.00 target price on People’s United Financial and gave the stock a “hold” rating in a report on Tuesday, October 2nd. BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a report on Friday, October 5th. Finally, ValuEngine lowered People’s United Financial from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.21.

In other news, VP Lee C. Powlus sold 48,200 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $17.97, for a total transaction of $866,154.00. Following the completion of the sale, the vice president now owns 146,050 shares in the company, valued at approximately $2,624,518.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PBCT. Ridgewood Investments LLC increased its position in shares of People’s United Financial by 9.5% in the 3rd quarter. Ridgewood Investments LLC now owns 36,987 shares of the bank’s stock valued at $633,000 after acquiring an additional 3,215 shares during the period. Rampart Investment Management Company LLC increased its position in shares of People’s United Financial by 26.6% in the 3rd quarter. Rampart Investment Management Company LLC now owns 15,628 shares of the bank’s stock valued at $59,768,000 after acquiring an additional 3,284 shares during the period. Cadence Capital Management LLC increased its position in shares of People’s United Financial by 7.9% in the 3rd quarter. Cadence Capital Management LLC now owns 44,971 shares of the bank’s stock valued at $770,000 after acquiring an additional 3,307 shares during the period. Tyers Asset Management LLC increased its position in shares of People’s United Financial by 1.8% in the 2nd quarter. Tyers Asset Management LLC now owns 191,048 shares of the bank’s stock valued at $3,456,000 after acquiring an additional 3,322 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of People’s United Financial by 0.9% in the 3rd quarter. AQR Capital Management LLC now owns 385,996 shares of the bank’s stock valued at $6,608,000 after acquiring an additional 3,326 shares during the period. Hedge funds and other institutional investors own 73.67% of the company’s stock.

People’s United Financial stock traded down $0.14 during mid-day trading on Friday, reaching $16.14. 3,683,198 shares of the company were exchanged, compared to its average volume of 4,031,336. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The firm has a market cap of $6.09 billion, a P/E ratio of 15.52, a P/E/G ratio of 6.26 and a beta of 0.96. People’s United Financial has a 12-month low of $15.04 and a 12-month high of $20.26.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a dividend of $0.175 per share. The ex-dividend date was Wednesday, October 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.34%. People’s United Financial’s dividend payout ratio is presently 67.31%.

About People’s United Financial

People's United Financial, Inc operates as the bank holding company for People's United Bank, National Association that provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. The company operates in two segments, Commercial Banking and Retail Banking.

Further Reading: Debt-To-Equity Ratio

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

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