Mercer Global Advisors Inc. ADV bought a new position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 57,042 shares of the bank’s stock, valued at approximately $823,000.
Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new stake in People’s United Financial during the fourth quarter worth $28,000. First Hawaiian Bank increased its stake in People’s United Financial by 462.5% during the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock worth $29,000 after acquiring an additional 1,665 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new stake in People’s United Financial during the fourth quarter worth $41,000. CSat Investment Advisory L.P. increased its stake in People’s United Financial by 64.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock worth $41,000 after acquiring an additional 1,106 shares during the last quarter. Finally, Huntington National Bank acquired a new stake in People’s United Financial during the first quarter worth $47,000. 77.28% of the stock is owned by institutional investors.
PBCT has been the subject of several recent analyst reports. BidaskClub cut People’s United Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 11th. Barclays raised People’s United Financial from an “underweight” rating to an “equal weight” rating and set a $18.00 target price for the company in a research note on Thursday, January 10th. Wells Fargo & Co reaffirmed a “hold” rating on shares of People’s United Financial in a research note on Thursday, January 3rd. FIG Partners initiated coverage on People’s United Financial in a research note on Thursday, December 20th. They issued an “outperform” rating for the company. Finally, ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. People’s United Financial currently has a consensus rating of “Hold” and a consensus price target of $19.70.
Shares of NASDAQ PBCT opened at $17.36 on Wednesday. People’s United Financial, Inc. has a twelve month low of $13.66 and a twelve month high of $19.37. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $6.42 billion, a PE ratio of 13.25, a PEG ratio of 6.09 and a beta of 1.16.
People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. People’s United Financial had a return on equity of 8.11% and a net margin of 24.34%. The business had revenue of $428.20 million during the quarter, compared to analysts’ expectations of $432.25 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that People’s United Financial, Inc. will post 1.39 EPS for the current year.
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People’s United Financial 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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