Wellington Shields & Co. LLC bought a new position in shares of People's United Financial, Inc. (NASDAQ:PBCT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,707 shares of the bank’s stock, valued at approximately $200,000.
Several other institutional investors and hedge funds have also made changes to their positions in PBCT. Advisory Services Network LLC increased its holdings in shares of People's United Financial by 3.0% during the second quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock worth $137,000 after purchasing an additional 226 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of People's United Financial by 1,408.7% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,996 shares of the bank’s stock worth $145,000 after purchasing an additional 7,466 shares during the period. Intl Fcstone Inc. bought a new position in shares of People's United Financial during the second quarter worth approximately $185,000. Aurora Investment Counsel bought a new position in shares of People's United Financial during the fourth quarter worth approximately $193,000. Finally, Tiedemann Wealth Management LLC bought a new position in shares of People's United Financial during the third quarter worth approximately $199,000. 75.52% of the stock is currently owned by institutional investors.
In other People's United Financial news, VP David K. Norton sold 108,194 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $19.22, for a total value of $2,079,488.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert E. Trautmann sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $19.86, for a total transaction of $595,800.00. The disclosure for this sale can be found here. Insiders sold 402,362 shares of company stock worth $7,770,854 in the last 90 days. Company insiders own 2.70% of the company’s stock.
People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $379.60 million for the quarter, compared to analysts’ expectations of $392.70 million. People's United Financial had a net margin of 20.37% and a return on equity of 6.69%. During the same period last year, the firm posted $0.25 earnings per share. equities analysts anticipate that People's United Financial, Inc. will post 1.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be given a $0.1725 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $0.69 dividend on an annualized basis and a yield of 3.59%. People's United Financial’s dividend payout ratio is currently 71.13%.
PBCT has been the topic of several recent research reports. Zacks Investment Research raised shares of People's United Financial from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 1st. Barclays lifted their price objective on shares of People's United Financial from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. BidaskClub cut shares of People's United Financial from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Piper Jaffray Companies reissued a “sell” rating and issued a $17.00 price objective on shares of People's United Financial in a research note on Sunday, October 22nd. Finally, Sandler O’Neill set a $21.00 price objective on shares of People's United Financial and gave the company a “hold” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. People's United Financial has an average rating of “Hold” and a consensus target price of $19.25.
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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