BidaskClub Lowers People’s United Financial (PBCT) to Sell

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BidaskClub cut shares of People’s United Financial (NASDAQ:PBCT) from a hold rating to a sell rating in a research report report published on Friday morning.

Several other equities research analysts have also recently issued reports on PBCT. ValuEngine cut shares of People’s United Financial from a hold rating to a sell rating in a research report on Tuesday, September 18th. Zacks Investment Research upgraded shares of People’s United Financial from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Monday, September 24th. Wells Fargo & Co set a $18.00 price objective on shares of People’s United Financial and gave the stock a hold rating in a research report on Tuesday, October 2nd. FIG Partners initiated coverage on shares of People’s United Financial in a research report on Thursday, December 20th. They set an outperform rating for the company. Finally, Barclays upgraded shares of People’s United Financial from an underweight rating to an equal weight rating and set a $18.00 price objective for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. People’s United Financial presently has a consensus rating of Hold and a consensus target price of $19.93.

Shares of NASDAQ PBCT opened at $15.21 on Friday. The stock has a market capitalization of $5.69 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 5.31 and a beta of 1.06. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. People’s United Financial has a 52 week low of $13.66 and a 52 week high of $20.26.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 18th. The bank reported $0.33 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.33. The business had revenue of $398.70 million during the quarter, compared to analysts’ expectations of $404.65 million. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. During the same period in the prior year, the business earned $0.26 earnings per share. As a group, equities research analysts predict that People’s United Financial will post 1.29 EPS for the current fiscal year.

In related news, VP David K. Norton sold 32,163 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $14.89, for a total transaction of $478,907.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in PBCT. First Hawaiian Bank boosted its stake in People’s United Financial by 462.5% during the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock worth $29,000 after buying an additional 1,665 shares during the period. IMS Capital Management purchased a new position in People’s United Financial during the third quarter worth about $60,000. Federated Investors Inc. PA purchased a new position in People’s United Financial during the third quarter worth about $117,000. Citizens Financial Group Inc RI purchased a new position in People’s United Financial during the third quarter worth about $159,000. Finally, GHP Investment Advisors Inc. purchased a new position in People’s United Financial during the third quarter worth about $173,000. 73.52% of the stock is owned by institutional investors.

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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