People’s United Financial, Inc. (PBCT) Receives $20.30 Average Target Price from Brokerages

Shares of People’s United Financial, Inc. (NASDAQ:PBCT) have been assigned an average rating of “Hold” from the ten research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $20.30.

Several equities analysts recently weighed in on PBCT shares. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, September 24th. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.50 price target on shares of People’s United Financial in a research report on Monday, July 23rd. Morgan Stanley increased their price target on shares of People’s United Financial from $20.50 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 24th. Wells Fargo & Co set a $18.00 price target on shares of People’s United Financial and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Finally, ValuEngine upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th.

Shares of PBCT stock opened at $16.13 on Friday. The stock has a market capitalization of $6.09 billion, a PE ratio of 15.51, a PEG ratio of 6.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. People’s United Financial has a one year low of $15.04 and a one year high of $20.26.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The company had revenue of $398.70 million during the quarter, compared to analyst estimates of $404.65 million. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, equities research analysts anticipate that People’s United Financial will post 1.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Wednesday, October 31st. People’s United Financial’s payout ratio is 67.31%.

In other news, insider Mark F. Herron sold 10,976 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $18.65, for a total value of $204,702.40. Following the sale, the insider now directly owns 31,242 shares of the company’s stock, valued at $582,663.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George P. Carter sold 10,874 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $18.70, for a total transaction of $203,343.80. Following the completion of the sale, the director now directly owns 13,758 shares in the company, valued at $257,274.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,050 shares of company stock worth $1,274,200. Insiders own 2.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in PBCT. Ridgewood Investments LLC raised its stake in People’s United Financial by 9.5% in the third quarter. Ridgewood Investments LLC now owns 36,987 shares of the bank’s stock valued at $633,000 after purchasing an additional 3,215 shares in the last quarter. Rampart Investment Management Company LLC raised its stake in People’s United Financial by 26.6% in the third quarter. Rampart Investment Management Company LLC now owns 15,628 shares of the bank’s stock valued at $59,768,000 after purchasing an additional 3,284 shares in the last quarter. Cadence Capital Management LLC raised its stake in People’s United Financial by 7.9% in the third quarter. Cadence Capital Management LLC now owns 44,971 shares of the bank’s stock valued at $770,000 after purchasing an additional 3,307 shares in the last quarter. Tyers Asset Management LLC raised its stake in People’s United Financial by 1.8% in the second quarter. Tyers Asset Management LLC now owns 191,048 shares of the bank’s stock valued at $3,456,000 after purchasing an additional 3,322 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in People’s United Financial by 0.9% in the third quarter. AQR Capital Management LLC now owns 385,996 shares of the bank’s stock valued at $6,608,000 after purchasing an additional 3,326 shares in the last quarter. 72.35% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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