Strs Ohio Acquires 10,381 Shares of People’s United Financial, Inc. (PBCT)

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Strs Ohio raised its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 25.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,725 shares of the bank’s stock after acquiring an additional 10,381 shares during the period. Strs Ohio’s holdings in People’s United Financial were worth $833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new position in People’s United Financial during the fourth quarter valued at approximately $28,000. First Hawaiian Bank boosted its stake in shares of People’s United Financial by 462.5% during the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,665 shares during the period. Ipswich Investment Management Co. Inc. purchased a new stake in shares of People’s United Financial during the fourth quarter valued at approximately $41,000. CSat Investment Advisory L.P. boosted its stake in shares of People’s United Financial by 64.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,106 shares during the period. Finally, Huntington National Bank purchased a new stake in shares of People’s United Financial during the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 77.39% of the company’s stock.

NASDAQ:PBCT opened at $17.41 on Friday. The company has a market cap of $6.55 billion, a PE ratio of 13.29, a P/E/G ratio of 6.28 and a beta of 1.17. People’s United Financial, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $19.37. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.39.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. The firm had revenue of $427.40 million during the quarter, compared to analyst estimates of $432.11 million. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Sell-side analysts anticipate that People’s United Financial, Inc. will post 1.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.1775 dividend. This is a positive change from People’s United Financial’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, April 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.08%. People’s United Financial’s dividend payout ratio (DPR) is presently 54.20%.

A number of analysts have recently weighed in on the company. ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub raised People’s United Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered People’s United Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. FIG Partners lowered People’s United Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Finally, Barclays reissued a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research note on Sunday, January 20th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. People’s United Financial currently has an average rating of “Hold” and an average target price of $19.70.

In other People’s United Financial news, Director Jerry Franklin sold 4,800 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.99, for a total transaction of $86,352.00. Following the completion of the transaction, the director now owns 93,317 shares of the company’s stock, valued at $1,678,772.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David P. Berey sold 129,431 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $17.90, for a total value of $2,316,814.90. Following the transaction, the executive vice president now directly owns 46,672 shares of the company’s stock, valued at approximately $835,428.80. The disclosure for this sale can be found here. Insiders sold 162,885 shares of company stock valued at $2,898,495 in the last ninety days. 2.40% of the stock is currently owned by insiders.

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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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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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