People’s United Financial, Inc. (NASDAQ:PBCT) issued its quarterly earnings data on Wednesday. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01, Bloomberg Earnings reports. The firm had revenue of $373.90 million for the quarter, compared to analyst estimates of $374.59 million. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. People’s United Financial’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS.
Shares of People’s United Financial (NASDAQ PBCT) traded up 0.66% during mid-day trading on Thursday, reaching $18.36. 2,187,921 shares of the company’s stock were exchanged. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 20.54 and a beta of 0.84. People’s United Financial has a 52 week low of $15.82 and a 52 week high of $20.13. The stock has a 50 day moving average price of $17.52 and a 200 day moving average price of $17.41.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.76%. People’s United Financial’s dividend payout ratio (DPR) is presently 77.53%.
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Several brokerages recently issued reports on PBCT. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a report on Friday, August 18th. Piper Jaffray Companies set a $16.00 price objective on shares of People’s United Financial and gave the company a “sell” rating in a report on Thursday, August 17th. BidaskClub lowered shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Zacks Investment Research lowered shares of People’s United Financial from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $17.75 price objective (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. People’s United Financial currently has an average rating of “Hold” and an average price target of $18.75.
In related news, insider Jeffrey Hoyt sold 6,759 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Janet M. Hansen sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total value of $205,680.00. Following the sale, the director now owns 145,707 shares in the company, valued at $2,497,417.98. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
About People’s United Financial
People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.
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