Wall Street brokerages expect that People’s United Financial, Inc. (NASDAQ:PBCT) will post $432.76 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for People’s United Financial’s earnings. The highest sales estimate is $437.40 million and the lowest is $430.10 million. People’s United Financial posted sales of $386.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The firm is expected to issue its next earnings results on Thursday, April 18th.
According to Zacks, analysts expect that People’s United Financial will report full year sales of $1.81 billion for the current year, with estimates ranging from $1.78 billion to $1.84 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.91 billion, with estimates ranging from $1.87 billion to $1.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow People’s United Financial.
People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, January 17th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The company had revenue of $428.20 million during the quarter, compared to analyst estimates of $432.25 million. People’s United Financial had a return on equity of 8.11% and a net margin of 24.34%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share.
In related news, Director Mark W. Richards sold 6,800 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $16.43, for a total value of $111,724.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David K. Norton sold 32,163 shares of the company’s stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $14.89, for a total value of $478,907.07. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PBCT. State of Alaska Department of Revenue raised its stake in People’s United Financial by 7.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 117,270 shares of the bank’s stock valued at $2,006,000 after buying an additional 8,066 shares during the last quarter. Bank of Montreal Can raised its stake in People’s United Financial by 37.2% during the 3rd quarter. Bank of Montreal Can now owns 986,642 shares of the bank’s stock valued at $16,891,000 after buying an additional 267,665 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in People’s United Financial during the 3rd quarter valued at $173,000. First Citizens Bank & Trust Co. raised its stake in People’s United Financial by 25.7% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 154,025 shares of the bank’s stock valued at $2,637,000 after buying an additional 31,455 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of People’s United Financial in the 3rd quarter worth $4,343,000. 73.92% of the stock is currently owned by institutional investors and hedge funds.
PBCT stock traded up $0.39 during mid-day trading on Tuesday, hitting $17.34. 4,746,074 shares of the stock were exchanged, compared to its average volume of 4,504,569. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. People’s United Financial has a 12 month low of $13.66 and a 12 month high of $20.26. The firm has a market cap of $6.54 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 6.12 and a beta of 1.13.
The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were given a $0.175 dividend. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.04%. People’s United Financial’s dividend payout ratio is currently 53.44%.
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.
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