A number of other equities analysts have also recently issued reports on PBCT. Raymond James began coverage on shares of People’s United Financial in a research report on Tuesday, November 26th. They set a market perform rating on the stock. Morgan Stanley reduced their target price on People’s United Financial from $17.50 to $17.00 and set an equal weight rating for the company in a research note on Thursday, October 3rd. Zacks Investment Research lowered People’s United Financial from a buy rating to a hold rating and set a $18.00 target price for the company. in a research report on Tuesday, October 29th. Stephens assumed coverage on People’s United Financial in a research note on Tuesday, October 29th. They set an equal weight rating and a $16.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered People’s United Financial from an outperform rating to a market perform rating and set a $16.00 price target on the stock. in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.00.
People’s United Financial stock opened at $16.15 on Tuesday. The company has a market capitalization of $6.59 billion, a PE ratio of 12.33, a PEG ratio of 6.12 and a beta of 1.26. People’s United Financial has a 12-month low of $13.66 and a 12-month high of $18.03. The firm’s fifty day moving average is $16.51 and its 200 day moving average is $15.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.177 per share. The ex-dividend date was Wednesday, October 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.38%. People’s United Financial’s dividend payout ratio (DPR) is presently 54.20%.
In related news, President Jeffrey J. Tengel sold 90,689 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $16.30, for a total value of $1,478,230.70. Following the sale, the president now owns 154,592 shares in the company, valued at approximately $2,519,849.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David K. Norton sold 238,350 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.65, for a total transaction of $3,968,527.50. Following the completion of the transaction, the vice president now directly owns 290,491 shares in the company, valued at approximately $4,836,675.15. The disclosure for this sale can be found here. Insiders sold 429,175 shares of company stock worth $10,569,273 over the last ninety days. Insiders own 2.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of People’s United Financial by 10.8% in the first quarter. FMR LLC now owns 138,970 shares of the bank’s stock worth $2,285,000 after purchasing an additional 13,596 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in People’s United Financial in the 2nd quarter valued at $150,000. Zeke Capital Advisors LLC raised its position in People’s United Financial by 3.1% in the 2nd quarter. Zeke Capital Advisors LLC now owns 25,385 shares of the bank’s stock valued at $426,000 after buying an additional 752 shares during the last quarter. Arizona State Retirement System lifted its stake in People’s United Financial by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 75,007 shares of the bank’s stock valued at $1,259,000 after acquiring an additional 2,498 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in People’s United Financial by 1.9% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 210,925 shares of the bank’s stock valued at $3,539,000 after acquiring an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 75.83% of the company’s stock.
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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