People’s United Financial, Inc. (NASDAQ:PBCT) announced a quarterly dividend on Thursday, October 18th, RTT News reports. Shareholders of record on Thursday, November 1st will be given a dividend of 0.175 per share by the bank on Thursday, November 15th. This represents a $0.70 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, October 31st.
People’s United Financial has increased its dividend by an average of 1.5% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. People’s United Financial has a payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect People’s United Financial to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 49.0%.
PBCT opened at $15.57 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 5.87 and a beta of 0.93. People’s United Financial has a 52 week low of $15.04 and a 52 week high of $20.26.
Several research firms have commented on PBCT. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. BidaskClub raised People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, October 5th. Finally, Morgan Stanley increased their target price on People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. People’s United Financial currently has an average rating of “Hold” and an average target price of $20.21.
In other news, VP Robert E. Trautmann sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $18.34, for a total transaction of $183,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lee C. Powlus sold 48,200 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $17.97, for a total value of $866,154.00. Following the transaction, the vice president now directly owns 146,050 shares of the company’s stock, valued at $2,624,518.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,050 shares of company stock valued at $1,457,600. Company insiders own 2.50% of the company’s stock.
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.
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