People’s United Financial, Inc. (PBCT) Receives Average Rating of “Hold” from Brokerages

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People’s United Financial, Inc. (NASDAQ:PBCT) has earned an average rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $19.20.

PBCT has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of People’s United Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 target price on shares of People’s United Financial in a research note on Tuesday, February 27th. ValuEngine raised shares of People’s United Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. UBS Group assumed coverage on shares of People’s United Financial in a research note on Thursday, March 22nd. They issued a “neutral” rating and a $21.00 target price on the stock. Finally, Zacks Investment Research raised shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, March 27th.

In other People’s United Financial news, insider Sara M. Longobardi sold 73,324 shares of People’s United Financial stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $18.33, for a total transaction of $1,344,028.92. Following the transaction, the insider now directly owns 134,525 shares of the company’s stock, valued at $2,465,843.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark W. Richards sold 4,000 shares of People’s United Financial stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $18.71, for a total transaction of $74,840.00. Following the transaction, the director now directly owns 13,758 shares in the company, valued at $257,412.18. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of People’s United Financial in the first quarter worth $1,203,000. Summit Trail Advisors LLC increased its stake in shares of People’s United Financial by 1,843.8% in the first quarter. Summit Trail Advisors LLC now owns 105,819 shares of the bank’s stock worth $106,000 after buying an additional 100,375 shares during the period. Cypress Capital Group increased its stake in shares of People’s United Financial by 12.6% in the first quarter. Cypress Capital Group now owns 54,606 shares of the bank’s stock worth $1,019,000 after buying an additional 6,130 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of People’s United Financial by 15.4% in the first quarter. Xact Kapitalforvaltning AB now owns 34,388 shares of the bank’s stock worth $642,000 after buying an additional 4,586 shares during the period. Finally, Private Capital Group LLC increased its stake in shares of People’s United Financial by 831.2% in the first quarter. Private Capital Group LLC now owns 30,357 shares of the bank’s stock worth $566,000 after buying an additional 27,097 shares during the period. 77.05% of the stock is currently owned by institutional investors.

PBCT traded down $0.16 on Monday, reaching $18.55. The company had a trading volume of 3,251,617 shares, compared to its average volume of 3,132,665. The company has a market capitalization of $6.51 billion, a P/E ratio of 17.84, a P/E/G ratio of 7.28 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.96 and a quick ratio of 0.96. People’s United Financial has a 52-week low of $15.97 and a 52-week high of $20.26.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, April 19th. The bank reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $386.20 million for the quarter, compared to the consensus estimate of $398.69 million. People’s United Financial had a net margin of 21.64% and a return on equity of 7.16%. People’s United Financial’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. equities analysts anticipate that People’s United Financial will post 1.29 earnings per share for the current year.

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.

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

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