People’s United Financial, Inc. (PBCT) Holdings Boosted by DNB Asset Management AS

DNB Asset Management AS raised its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 99.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,730 shares of the bank’s stock after purchasing an additional 34,721 shares during the period. DNB Asset Management AS’s holdings in People’s United Financial were worth $1,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PBCT. Oppenheimer Asset Management Inc. acquired a new position in shares of People’s United Financial in the 4th quarter valued at approximately $28,000. First Hawaiian Bank raised its position in shares of People’s United Financial by 462.5% in the 4th quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,665 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of People’s United Financial in the 4th quarter valued at approximately $41,000. Oregon Public Employees Retirement Fund raised its position in shares of People’s United Financial by 1,456.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 586,724 shares of the bank’s stock valued at $41,000 after purchasing an additional 549,017 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its position in shares of People’s United Financial by 64.0% in the 4th quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,106 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the company. FIG Partners assumed coverage on People’s United Financial in a research report on Thursday, December 20th. They set an “outperform” rating on the stock. Wells Fargo & Co reissued a “hold” rating on shares of People’s United Financial in a research report on Thursday, January 3rd. BidaskClub raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Barclays raised People’s United Financial from an “underweight” rating to an “equal weight” rating and set a $18.00 price target on the stock in a research report on Thursday, January 10th. Finally, ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. People’s United Financial currently has a consensus rating of “Hold” and an average target price of $19.70.

PBCT stock opened at $17.13 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market cap of $6.52 billion, a P/E ratio of 13.08, a PEG ratio of 6.09 and a beta of 1.16. People’s United Financial, Inc. has a 12-month low of $13.66 and a 12-month high of $19.37.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a return on equity of 8.11% and a net margin of 24.34%. During the same quarter last year, the company posted $1.30 EPS. Sell-side analysts expect that People’s United Financial, Inc. will post 1.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.1775 per share. This is an increase from People’s United Financial’s previous quarterly dividend of $0.18. This represents a $0.71 dividend on an annualized basis and a yield of 4.14%. People’s United Financial’s dividend payout ratio is presently 53.44%.

In related news, Director Jerry Franklin sold 4,800 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.99, for a total transaction of $86,352.00. Following the completion of the transaction, the director now directly owns 93,317 shares in the company, valued at approximately $1,678,772.83. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark W. Richards sold 6,800 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $16.43, for a total value of $111,724.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,219 shares of company stock valued at $2,932,690. 2.40% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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