FineMark National Bank & Trust Invests $150,000 in People’s United Financial, Inc. (PBCT)

FineMark National Bank & Trust purchased a new stake in shares of People’s United Financial, Inc. (NASDAQ:PBCT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,279 shares of the bank’s stock, valued at approximately $150,000.

Several other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of People’s United Financial by 36.8% during the 1st quarter. US Bancorp DE now owns 11,698 shares of the bank’s stock valued at $218,000 after purchasing an additional 3,144 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of People’s United Financial by 4.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 74,605 shares of the bank’s stock valued at $1,350,000 after purchasing an additional 3,500 shares in the last quarter. Creative Planning raised its holdings in shares of People’s United Financial by 4.7% during the 2nd quarter. Creative Planning now owns 78,829 shares of the bank’s stock valued at $1,426,000 after purchasing an additional 3,506 shares in the last quarter. Norinchukin Bank The raised its holdings in shares of People’s United Financial by 23.6% during the 1st quarter. Norinchukin Bank The now owns 21,456 shares of the bank’s stock valued at $400,000 after purchasing an additional 4,096 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in shares of People’s United Financial by 10.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 47,038 shares of the bank’s stock valued at $851,000 after purchasing an additional 4,322 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.

Shares of People’s United Financial opened at $18.40 on Friday, according to MarketBeat. The firm has a market capitalization of $6.44 billion, a P/E ratio of 15.55, a PEG ratio of 7.16 and a beta of 0.94. People’s United Financial, Inc. has a one year low of $15.97 and a one year high of $20.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, July 19th. The bank reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $396.10 million for the quarter, compared to the consensus estimate of $395.57 million. People’s United Financial had a net margin of 23.24% and a return on equity of 7.57%. During the same quarter last year, the firm posted $0.19 EPS. research analysts expect that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Wednesday, August 1st will be issued a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, July 31st. This represents a $0.70 annualized dividend and a yield of 3.80%. People’s United Financial’s dividend payout ratio (DPR) is presently 67.31%.

A number of research firms have recently weighed in on PBCT. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, August 6th. Morgan Stanley lifted their target price on shares of People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 24th. ValuEngine upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.50 target price on shares of People’s United Financial in a report on Monday, July 23rd. Finally, BidaskClub downgraded shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, June 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. People’s United Financial has a consensus rating of “Hold” and an average target price of $20.19.

In other People’s United Financial news, Director Mark W. Richards sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $18.71, for a total value of $74,840.00. Following the sale, the director now directly owns 13,758 shares in the company, valued at approximately $257,412.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Trautmann sold 75,404 shares of the firm’s stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $18.27, for a total transaction of $1,377,631.08. Following the completion of the sale, the vice president now owns 69,193 shares in the company, valued at $1,264,156.11. The disclosure for this sale can be found here. Insiders sold a total of 89,404 shares of company stock worth $1,635,871 in the last quarter. Insiders own 2.50% of the company’s stock.

People’s United Financial Company Profile

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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Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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