People’s United Financial Target of Unusually High Options Trading (NASDAQ:PBCT)

People’s United Financial, Inc. (NASDAQ:PBCT) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 1,734 call options on the stock. This represents an increase of approximately 2,308% compared to the average volume of 72 call options.

A number of equities research analysts have recently weighed in on the company. BidaskClub lowered People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. DA Davidson downgraded People’s United Financial from a “buy” rating to a “neutral” rating and set a $17.50 price target for the company. in a report on Friday. Raymond James started coverage on People’s United Financial in a report on Tuesday, November 26th. They issued a “market perform” rating for the company. ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley decreased 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. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. People’s United Financial currently has a consensus rating of “Hold” and a consensus price target of $17.08.

In other news, CFO R David Rosato sold 8,427 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.08, for a total transaction of $143,933.16. Following the sale, the chief financial officer now owns 107,223 shares in the company, valued at $1,831,368.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John P. Barnes sold 32,461 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,246,632.20. The disclosure for this sale can be found here. Insiders sold a total of 414,912 shares of company stock worth $10,339,781 in the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allred Capital Management LLC purchased a new position in shares of People’s United Financial in the 4th quarter valued at about $30,000. Doyle Wealth Management purchased a new position in shares of People’s United Financial in the 2nd quarter valued at about $38,000. Bartlett & Co. LLC purchased a new position in shares of People’s United Financial in the 3rd quarter valued at about $37,000. Pinebridge Investments L.P. increased its holdings in shares of People’s United Financial by 1,653.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,173 shares of the bank’s stock valued at $53,000 after acquiring an additional 2,992 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of People’s United Financial by 706.8% in the 3rd quarter. AdvisorNet Financial Inc now owns 3,324 shares of the bank’s stock valued at $52,000 after acquiring an additional 2,912 shares during the last quarter. 75.85% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:PBCT traded down $0.46 during trading hours on Friday, hitting $16.16. The company had a trading volume of 1,833,332 shares, compared to its average volume of 2,646,757. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $16.62 and a 200 day moving average of $16.06. The company has a market cap of $6.59 billion, a P/E ratio of 12.34, a P/E/G ratio of 6.03 and a beta of 1.26. People’s United Financial has a 1 year low of $13.81 and a 1 year high of $18.03.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, January 16th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.04. People’s United Financial had a return on equity of 8.17% and a net margin of 23.32%. The company had revenue of $506.90 million during the quarter, compared to analysts’ expectations of $487.75 million. During the same period in the prior year, the business earned $0.35 EPS. On average, analysts forecast that People’s United Financial will post 1.35 earnings per share for the current year.

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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