People’s United Financial, Inc. (PBCT) Stake Lowered by Brown Advisory Inc.

Brown Advisory Inc. trimmed its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 61.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,245 shares of the bank’s stock after selling 17,615 shares during the quarter. Brown Advisory Inc.’s holdings in People’s United Financial were worth $203,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Tibra Equities Europe Ltd purchased a new stake in People’s United Financial in the second quarter worth $1,221,000. Ridgewood Investments LLC increased its stake in People’s United Financial by 33.3% in the second quarter. Ridgewood Investments LLC now owns 33,772 shares of the bank’s stock worth $611,000 after purchasing an additional 8,430 shares during the period. BlackRock Inc. increased its stake in People’s United Financial by 0.6% in the second quarter. BlackRock Inc. now owns 32,213,648 shares of the bank’s stock worth $582,747,000 after purchasing an additional 190,316 shares during the period. WBI Investments Inc. purchased a new stake in People’s United Financial in the second quarter worth $12,380,000. Finally, Sun Life Financial INC increased its stake in People’s United Financial by 5,259.4% in the second quarter. Sun Life Financial INC now owns 75,032 shares of the bank’s stock worth $1,357,000 after purchasing an additional 73,632 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

A number of analysts have weighed in on the company. Zacks Investment Research lowered People’s United Financial from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday. Wells Fargo & Co set a $18.00 price target on People’s United Financial and gave the company a “hold” rating in a research note on Tuesday, October 2nd. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Finally, Morgan Stanley raised their price objective on People’s United Financial from $20.50 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 24th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $19.94.

In other news, Director George P. Carter sold 10,874 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $18.70, for a total value of $203,343.80. Following the completion of the sale, the director now directly owns 13,758 shares in the company, valued at $257,274.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert E. Trautmann sold 75,404 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $18.27, for a total value of $1,377,631.08. Following the completion of the sale, the vice president now owns 69,193 shares of the company’s stock, valued at $1,264,156.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,454 shares of company stock valued at $2,835,231. 2.50% of the stock is owned by company insiders.

NASDAQ PBCT traded up $0.19 during trading on Monday, hitting $17.28. The company’s stock had a trading volume of 2,708,300 shares, compared to its average volume of 3,013,827. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 0.98. People’s United Financial, Inc. has a fifty-two week low of $16.71 and a fifty-two week high of $20.26. The company has a market cap of $5.97 billion, a PE ratio of 16.62, a P/E/G ratio of 6.63 and a beta of 0.93.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, July 19th. The bank reported $0.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.32. The firm had revenue of $396.10 million during the quarter, compared to the consensus estimate of $395.57 million. People’s United Financial had a return on equity of 7.57% and a net margin of 23.24%. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, sell-side analysts predict that People’s United Financial, Inc. will post 1.29 earnings per share for the current fiscal year.

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.

Featured Article: Intrinsic Value

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

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