SG Americas Securities LLC increased its stake in shares of People's United Financial, Inc. (NASDAQ:PBCT) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 102,910 shares of the bank’s stock after purchasing an additional 9,253 shares during the quarter. SG Americas Securities LLC’s holdings in People's United Financial were worth $1,867,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glassman Wealth Services increased its position in shares of People's United Financial by 4,150.7% during the 2nd quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock valued at $101,000 after purchasing an additional 5,562 shares during the last quarter. Ffcm LLC grew its position in People's United Financial by 208.3% in the 2nd quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock valued at $114,000 after acquiring an additional 4,287 shares during the last quarter. Advisory Services Network LLC grew its position in People's United Financial by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock valued at $137,000 after acquiring an additional 226 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in People's United Financial by 1,408.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 7,996 shares of the bank’s stock valued at $145,000 after acquiring an additional 7,466 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in People's United Financial by 0.8% in the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after acquiring an additional 80 shares during the last quarter. 76.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of People's United Financial, Inc. (PBCT) opened at $18.12 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 firm has a market capitalization of $6,274.09, a price-to-earnings ratio of 18.88, a P/E/G ratio of 9.20 and a beta of 0.85. People's United Financial, Inc. has a 12 month low of $15.97 and a 12 month high of $20.13.
People's United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $373.90 million during the quarter, compared to analysts’ expectations of $374.59 million. People's United Financial had a return on equity of 6.28% and a net margin of 19.32%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. analysts anticipate that People's United Financial, Inc. will post 0.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Tuesday, October 31st. People's United Financial’s dividend payout ratio (DPR) is presently 75.83%.
Several equities analysts have commented on the company. Piper Jaffray Companies set a $16.00 price objective on People's United Financial and gave the company a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research downgraded People's United Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 price objective on shares of People's United Financial in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.08.
In other People's United Financial news, Director Mark W. Richards sold 26,732 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.89, for a total value of $504,967.48. Following the completion of the sale, the director now directly owns 332,668 shares in the company, valued at $6,284,098.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sara M. Longobardi sold 43,450 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $18.68, for a total value of $811,646.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 381,491 shares of company stock valued at $7,173,247. 2.70% of the stock is currently owned by company insiders.
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People's United Financial Profile
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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