People’s United Financial, Inc. (NASDAQ:PBCT) Stake Lowered by BB&T Securities LLC

BB&T Securities LLC lowered its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,456 shares of the bank’s stock after selling 3,833 shares during the quarter. BB&T Securities LLC’s holdings in People’s United Financial were worth $2,124,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of 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 acquiring an additional 190,316 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in People’s United Financial by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,386,117 shares of the bank’s stock valued at $169,799,000 after buying an additional 185,833 shares during the last quarter. First Trust Advisors LP raised its holdings in People’s United Financial by 63.7% in the 2nd quarter. First Trust Advisors LP now owns 4,844,250 shares of the bank’s stock valued at $87,632,000 after buying an additional 1,885,432 shares during the last quarter. Crawford Investment Counsel Inc. raised its holdings in People’s United Financial by 4.7% in the 1st quarter. Crawford Investment Counsel Inc. now owns 3,146,905 shares of the bank’s stock valued at $58,721,000 after buying an additional 142,424 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in People’s United Financial by 1.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 2,962,033 shares of the bank’s stock valued at $53,674,000 after buying an additional 28,462 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Robert E. Trautmann sold 10,000 shares of People’s United Financial stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $18.34, for a total value of $183,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert E. Trautmann sold 75,404 shares of People’s United Financial stock in a transaction on Wednesday, July 25th. The shares were 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 directly owns 69,193 shares of the company’s stock, valued at approximately $1,264,156.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,454 shares of company stock valued at $2,835,231. Insiders own 2.50% of the company’s stock.

NASDAQ:PBCT traded up $0.19 on Monday, reaching $17.28. 2,708,300 shares of the stock traded hands, compared to its average volume of 3,013,827. The company has a market capitalization 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, Inc. has a 1-year low of $16.71 and a 1-year high of $20.26. 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 (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, July 19th. The bank reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $396.10 million during 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 predict that People’s United Financial, Inc. will post 1.29 EPS for the current year.

A number of research analysts recently issued reports on PBCT shares. Keefe, Bruyette & Woods upgraded shares of People’s United Financial from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, June 19th. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Tuesday, June 26th. BidaskClub lowered shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, June 30th. ValuEngine downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. Finally, Morgan Stanley increased their target price on shares of 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 analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.94.

People’s United Financial 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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