Victory Capital Management Inc. Raises Stake in People’s United Financial, Inc. (PBCT)

Victory Capital Management Inc. increased its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 36.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531,064 shares of the bank’s stock after buying an additional 142,982 shares during the period. Victory Capital Management Inc. owned 0.16% of People’s United Financial worth $9,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crawford Investment Counsel Inc. grew its stake in shares of People’s United Financial by 7.8% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 2,882,016 shares of the bank’s stock valued at $50,896,000 after buying an additional 207,716 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of People’s United Financial by 7.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,083,768 shares of the bank’s stock valued at $19,139,000 after buying an additional 72,489 shares during the period. Capital Advisors Inc. OK grew its stake in shares of People’s United Financial by 4.3% in the 2nd quarter. Capital Advisors Inc. OK now owns 694,082 shares of the bank’s stock valued at $12,257,000 after buying an additional 28,878 shares during the period. Bank of Montreal Can grew its stake in shares of People’s United Financial by 20.1% in the 2nd quarter. Bank of Montreal Can now owns 1,092,161 shares of the bank’s stock valued at $19,287,000 after buying an additional 183,129 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of People’s United Financial by 23.6% in the 2nd quarter. Pacer Advisors Inc. now owns 50,410 shares of the bank’s stock valued at $890,000 after buying an additional 9,641 shares during the period. Institutional investors own 76.93% of the company’s stock.

Several analysts have recently commented on the company. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Piper Jaffray Companies reiterated a “sell” rating and set a $17.00 price target on shares of People’s United Financial in a research note on Sunday, October 22nd. Finally, BidaskClub downgraded People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.08.

People’s United Financial, Inc. (NASDAQ PBCT) opened at $18.28 on Wednesday. The stock has a market capitalization of $6,305.24, a PE ratio of 18.97, a price-to-earnings-growth ratio of 9.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.98. People’s United Financial, Inc. has a 12 month low of $15.97 and a 12 month high of $20.13.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. People’s United Financial had a return on equity of 6.28% and a net margin of 19.32%. The business had revenue of $373.90 million during the quarter, compared to the consensus estimate of $374.59 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. equities research analysts expect that People’s United Financial, Inc. will post 0.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.1725 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.77%. People’s United Financial’s payout ratio is presently 75.83%.

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In other news, Director Janet M. Hansen sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total value of $205,680.00. Following the transaction, the director now owns 145,707 shares in the company, valued at approximately $2,497,417.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John P. Barnes sold 299,309 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.88, for a total value of $5,650,953.92. Following the completion of the transaction, the chief executive officer now owns 383,140 shares in the company, valued at approximately $7,233,683.20. The disclosure for this sale can be found here. Insiders sold a total of 381,491 shares of company stock worth $7,173,247 in the last 90 days. Company insiders own 2.70% of the company’s stock.

People’s United Financial Profile

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.

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

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