Campbell & CO Investment Adviser LLC acquired a new position in shares of People's United Financial, Inc. (NASDAQ:PBCT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,000 shares of the bank’s stock, valued at approximately $317,000.
Several other large investors have also added to or reduced their stakes in PBCT. Captrust Financial Advisors bought a new stake in shares of People's United Financial in the 4th quarter worth approximately $108,000. Community Bank N.A. bought a new stake in shares of People's United Financial in the 4th quarter worth approximately $115,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of People's United Financial by 131.1% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,400 shares of the bank’s stock worth $194,000 after buying an additional 5,900 shares during the last quarter. Wellington Shields & Co. LLC bought a new stake in shares of People's United Financial in the 4th quarter worth approximately $200,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in shares of People's United Financial in the 4th quarter worth approximately $208,000. 76.57% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Mark W. Richards sold 4,000 shares of the business’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $18.71, for a total value of $74,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Galan G. Daukas sold 5,612 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $19.60, for a total value of $109,995.20. The disclosure for this sale can be found here. Insiders sold 82,936 shares of company stock valued at $1,528,864 in the last 90 days. Company insiders own 2.50% of the company’s stock.
People's United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, April 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The business had revenue of $386.20 million during the quarter, compared to analysts’ expectations of $398.69 million. People's United Financial had a return on equity of 7.16% and a net margin of 21.64%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. research analysts predict that People's United Financial, Inc. will post 1.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were paid a $0.175 dividend. The ex-dividend date of this dividend was Monday, April 30th. This represents a $0.70 annualized dividend and a dividend yield of 3.72%. This is a boost from People's United Financial’s previous quarterly dividend of $0.17. People's United Financial’s payout ratio is currently 67.31%.
A number of equities research analysts have recently weighed in on PBCT shares. Zacks Investment Research lowered People's United Financial from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $21.50 price objective on shares of People's United Financial in a research report on Thursday, April 19th. BidaskClub upgraded People's United Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. ValuEngine upgraded People's United Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, Sandler O’Neill set a $21.00 price target on People's United Financial and gave the company a “hold” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $20.06.
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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