Visionary Asset Management Inc. Sells 12,961 Shares of People's United Financial, Inc. (NASDAQ:PBCT)

Visionary Asset Management Inc. lessened its stake in People's United Financial, Inc. (NASDAQ:PBCT) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,909 shares of the bank’s stock after selling 12,961 shares during the quarter. Visionary Asset Management Inc.’s holdings in People's United Financial were worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of PBCT. Federated Investors Inc. PA raised its position in People's United Financial by 0.8% in the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock worth $171,000 after buying an additional 80 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in People's United Financial by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,583 shares of the bank’s stock worth $452,000 after buying an additional 104 shares during the last quarter. Advisory Services Network LLC raised its position in People's United Financial by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock worth $137,000 after buying an additional 226 shares during the last quarter. Sentry Investment Management LLC raised its position in People's United Financial by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 23,768 shares of the bank’s stock worth $420,000 after buying an additional 256 shares during the last quarter. Finally, US Bancorp DE raised its position in People's United Financial by 3.2% in the 2nd quarter. US Bancorp DE now owns 11,061 shares of the bank’s stock worth $195,000 after buying an additional 344 shares during the last quarter. 75.52% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have issued reports on PBCT. Zacks Investment Research downgraded People's United Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Companies restated a “sell” rating and set a $16.00 price target on shares of People's United Financial in a research note on Wednesday, October 4th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.09.

Shares of People's United Financial, Inc. (PBCT) traded down $0.22 during trading hours on Friday, hitting $18.70. The company had a trading volume of 1,803,175 shares, compared to its average volume of 2,733,364. The company has a market cap of $6,551.08, a P/E ratio of 20.55, a PEG ratio of 9.51 and a beta of 0.85. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72. People's United Financial, Inc. has a 52 week low of $15.97 and a 52 week high of $19.85.

People's United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $373.90 million for the quarter, compared to analysts’ expectations of $374.59 million. During the same period in the previous year, the firm earned $0.24 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. research analysts predict that People's United Financial, Inc. will post 1 EPS for the current year.

In other news, Director Janet M. Hansen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $19.14, for a total transaction of $191,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey J. Tengel sold 173,685 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $19.32, for a total value of $3,355,594.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 724,338 shares of company stock worth $13,796,084. 2.70% of the stock is owned by insiders.

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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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