Los Angeles Capital Management & Equity Research Inc. Sells 144,257 Shares of People’s United Financial, Inc. (PBCT)

Los Angeles Capital Management & Equity Research Inc. cut its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 14.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 887,325 shares of the bank’s stock after selling 144,257 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.26% of People’s United Financial worth $16,096,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Benedict Financial Advisors Inc. grew its position in shares of People’s United Financial by 0.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 15,537 shares of the bank’s stock worth $272,000 after buying an additional 47 shares during the period. Federated Investors Inc. PA grew its position in People’s United Financial by 0.8% during the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after purchasing an additional 80 shares during the last quarter. ING Groep NV grew its position in People’s United Financial by 0.5% during the 2nd quarter. ING Groep NV now owns 17,637 shares of the bank’s stock valued at $311,000 after purchasing an additional 94 shares during the last quarter. Contravisory Investment Management Inc. grew its position in People’s United Financial by 0.8% during the 2nd quarter. Contravisory Investment Management Inc. now owns 13,274 shares of the bank’s stock valued at $234,000 after purchasing an additional 104 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in People’s United Financial by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,583 shares of the bank’s stock valued at $452,000 after purchasing an additional 104 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

People’s United Financial, Inc. (NASDAQ:PBCT) opened at $18.11 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $6,301.78, a PE ratio of 18.96, a price-to-earnings-growth ratio of 9.25 and a beta of 0.85. People’s United Financial, Inc. has a one year low of $15.97 and a one year high of $20.13.

People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, October 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The business had revenue of $373.90 million for the quarter, compared to analysts’ expectations of $374.59 million. People’s United Financial had a net margin of 19.32% and a return on equity of 6.28%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. equities research analysts forecast that People’s United Financial, Inc. will post 0.98 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.81%. The ex-dividend date was Tuesday, October 31st. People’s United Financial’s dividend payout ratio is currently 75.83%.

Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of People’s United Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Piper Jaffray Companies reissued a “sell” rating and set a $17.00 price objective on shares of People’s United Financial in a research report on Sunday, October 22nd. Finally, BidaskClub downgraded shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. People’s United Financial currently has a consensus rating of “Hold” and a consensus price target of $19.08.

In other news, Director Janet M. Hansen sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total value of $205,680.00. Following the transaction, the director now owns 145,707 shares in the company, valued at approximately $2,497,417.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark W. Richards sold 26,732 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.89, for a total transaction of $504,967.48. Following the completion of the transaction, the director now owns 332,668 shares in the company, valued at approximately $6,284,098.52. The disclosure for this sale can be found here. Insiders have sold a total of 381,491 shares of company stock worth $7,173,247 in the last 90 days. Company insiders own 2.70% of the company’s stock.

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About People’s United Financial

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through 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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