People’s United Financial (NASDAQ:PBCT) Upgraded to “Hold” by ValuEngine

People’s United Financial (NASDAQ:PBCT) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

Several other research analysts also recently weighed in on PBCT. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a report on Tuesday, October 29th. DA Davidson reiterated a “buy” rating on shares of People’s United Financial in a report on Wednesday, September 11th. Raymond James assumed coverage on People’s United Financial in a report on Tuesday, November 26th. They issued a “market perform” rating for the company. Morgan Stanley cut their price target on People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods downgraded People’s United Financial from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.00.

Shares of People’s United Financial stock opened at $16.31 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.98. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $18.03. The company has a market capitalization of $6.59 billion, a P/E ratio of 12.45, a P/E/G ratio of 6.12 and a beta of 1.26. The business has a 50 day moving average price of $16.50 and a 200 day moving average price of $15.95.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $462.00 million during the quarter, compared to the consensus estimate of $452.39 million. People’s United Financial had a return on equity of 8.17% and a net margin of 23.32%. People’s United Financial’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. As a group, research analysts expect that People’s United Financial will post 1.35 EPS for the current fiscal year.

In other news, CAO Jeffrey Hoyt sold 14,263 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $16.09, for a total transaction of $229,491.67. Following the completion of the sale, the chief accounting officer now directly owns 25,199 shares in the company, valued at approximately $405,451.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John P. Barnes sold 32,461 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $17.10, for a total value of $555,083.10. Following the sale, the chief executive officer now owns 131,382 shares of the company’s stock, valued at $2,246,632.20. The disclosure for this sale can be found here. Insiders sold a total of 429,175 shares of company stock valued at $10,569,273 over the last quarter. 2.40% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PBCT. Invesco Ltd. increased its holdings in shares of People’s United Financial by 10.5% during the 2nd quarter. Invesco Ltd. now owns 16,011,946 shares of the bank’s stock worth $268,681,000 after buying an additional 1,515,333 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of People’s United Financial during the 2nd quarter worth $17,994,000. Morgan Stanley increased its holdings in shares of People’s United Financial by 36.6% during the 2nd quarter. Morgan Stanley now owns 2,350,911 shares of the bank’s stock worth $39,448,000 after buying an additional 629,471 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of People’s United Financial by 19.0% during the 3rd quarter. First Trust Advisors LP now owns 3,599,066 shares of the bank’s stock worth $56,271,000 after buying an additional 575,026 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of People’s United Financial by 230.0% during the 2nd quarter. SG Americas Securities LLC now owns 743,422 shares of the bank’s stock worth $12,475,000 after buying an additional 518,170 shares during the last quarter. Institutional investors and hedge funds own 75.83% of the company’s stock.

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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Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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