Zacks: Brokerages Expect People’s United Financial, Inc. (PBCT) Will Announce Earnings of $0.34 Per Share

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Wall Street brokerages predict that People’s United Financial, Inc. (NASDAQ:PBCT) will announce $0.34 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for People’s United Financial’s earnings, with estimates ranging from $0.33 to $0.35. People’s United Financial reported earnings of $0.30 per share in the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The company is scheduled to report its next quarterly earnings report on Thursday, January 17th.

According to Zacks, analysts expect that People’s United Financial will report full year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.28 to $1.30. For the next year, analysts expect that the company will report earnings of $1.43 per share, with EPS estimates ranging from $1.36 to $1.50. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. The firm had revenue of $398.70 million during the quarter, compared to analyst estimates of $404.65 million. During the same quarter in the previous year, the business earned $0.26 EPS.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, October 9th. Morgan Stanley boosted their price objective 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. BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. ValuEngine upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.50 price objective on shares of People’s United Financial in a research note on Monday, July 23rd. 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. The stock has an average rating of “Hold” and a consensus target price of $20.21.

In other news, insider Mark F. Herron sold 10,976 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $18.65, for a total transaction of $204,702.40. Following the transaction, the insider now directly owns 31,242 shares in the company, valued at approximately $582,663.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Lee C. Powlus sold 48,200 shares of the business’s 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 owns 146,050 shares in the company, valued at $2,624,518.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,050 shares of company stock valued at $1,274,200. 2.50% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. FineMark National Bank & Trust acquired a new position in People’s United Financial in the second quarter valued at approximately $150,000. Citizens Financial Group Inc RI acquired a new position in People’s United Financial in the third quarter valued at approximately $159,000. Argent Trust Co acquired a new position in People’s United Financial in the second quarter valued at approximately $182,000. GHP Investment Advisors Inc. acquired a new position in People’s United Financial in the third quarter valued at approximately $173,000. Finally, Warren Averett Asset Management LLC acquired a new position in People’s United Financial in the third quarter valued at approximately $179,000. Institutional investors and hedge funds own 77.91% of the company’s stock.

NASDAQ:PBCT traded up $0.08 during trading hours on Friday, hitting $16.13. 5,726,700 shares of the stock were exchanged, compared to its average volume of 3,168,956. People’s United Financial has a 52-week low of $15.04 and a 52-week high of $20.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.99 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 6.16 and a beta of 0.96.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.70 annualized dividend and a yield of 4.34%. People’s United Financial’s dividend payout ratio (DPR) is currently 67.31%.

People’s United Financial Company Profile

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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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