People’s United Financial (PBCT) Posts Earnings Results

People’s United Financial (NASDAQ:PBCT) issued its quarterly earnings results on Thursday. The bank reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02, Bloomberg Earnings reports. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. The company had revenue of $428.20 million for the quarter, compared to analyst estimates of $432.25 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year.

NASDAQ PBCT traded up $0.27 during trading hours on Thursday, hitting $16.00. The company had a trading volume of 5,142,742 shares, compared to its average volume of 4,322,990. People’s United Financial has a fifty-two week low of $13.66 and a fifty-two week high of $20.26. The company has a market cap of $5.86 billion, a P/E ratio of 15.38, a P/E/G ratio of 5.49 and a beta of 1.06. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 19th. Investors of record on Friday, February 1st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.38%. People’s United Financial’s dividend payout ratio is currently 67.31%.

In related news, VP David K. Norton sold 32,163 shares of the stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total value of $478,907.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on PBCT shares. BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. Zacks Investment Research upgraded People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, September 24th. Wells Fargo & Co set a $18.00 price objective on People’s United Financial and gave the stock a “hold” rating in a report on Tuesday, October 2nd. FIG Partners initiated coverage on People’s United Financial in a report on Thursday, December 20th. They set an “outperform” rating for the company. Finally, Barclays upgraded People’s United Financial from an “underweight” rating to an “equal weight” rating and set a $18.00 price objective for the company in a report on Thursday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. People’s United Financial has a consensus rating of “Hold” and a consensus price target of $19.93.

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People’s United Financial Company Profile

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.

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

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