People’s United Financial, Inc. (NASDAQ:PBCT) has been given a consensus rating of “Hold” by the ten analysts that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.14.
A number of brokerages recently issued reports on PBCT. Jefferies Financial Group lowered shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a report on Friday, February 26th. Seaport Global Securities reaffirmed a “neutral” rating on shares of People’s United Financial in a research note on Tuesday, April 13th. Zacks Investment Research cut shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Tuesday, March 9th. Compass Point increased their price target on shares of People’s United Financial from $18.50 to $19.50 and gave the stock a “neutral” rating in a research report on Tuesday, May 18th. Finally, Morgan Stanley increased their price target on shares of People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 3rd.
In other news, VP Lee C. Powlus sold 7,253 shares of the firm’s stock in a transaction that occurred on Friday, May 21st. The shares were sold at an average price of $19.05, for a total transaction of $138,169.65. Following the transaction, the vice president now directly owns 162,853 shares in the company, valued at $3,102,349.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David K. Norton sold 148,315 shares of the firm’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $18.08, for a total transaction of $2,681,535.20. Following the transaction, the vice president now owns 183,870 shares in the company, valued at $3,324,369.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,852 shares of company stock worth $4,613,659. 2.20% of the stock is owned by corporate insiders.
NASDAQ:PBCT traded up $0.12 during trading hours on Friday, reaching $18.25. 166,221 shares of the company were exchanged, compared to its average volume of 5,042,828. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50-day moving average of $18.47. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 13.23 and a beta of 1.24. People’s United Financial has a twelve month low of $9.73 and a twelve month high of $19.62.
People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, April 22nd. The bank reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. The company had revenue of $480.50 million during the quarter, compared to analysts’ expectations of $497.07 million. People’s United Financial had a net margin of 26.71% and a return on equity of 7.47%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, research analysts anticipate that People’s United Financial will post 1.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, May 15th. Shareholders of record on Monday, May 3rd were issued a dividend of $0.183 per share. The ex-dividend date was Friday, April 30th. This represents a $0.73 dividend on an annualized basis and a yield of 4.01%. This is a boost from People’s United Financial’s previous quarterly dividend of $0.18. People’s United Financial’s dividend payout ratio (DPR) is presently 57.48%.
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 Commercial Banking segment offers commercial deposit products, commercial real estate lending, middle market and business banking, equipment financing, mortgage warehouse and asset-based lending, treasury management services, and capital market capabilities.
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