People’s United Financial, Inc. (NASDAQ:PBCT) – Analysts at Jefferies Financial Group reduced their Q2 2019 EPS estimates for shares of People’s United Financial in a research note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now anticipates that the bank will earn $0.34 per share for the quarter, down from their prior forecast of $0.35.
People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, April 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. The firm had revenue of $427.40 million for the quarter, compared to analyst estimates of $432.11 million. During the same quarter in the prior year, the company earned $1.30 EPS.
A number of other equities research analysts have also issued reports on the company. FIG Partners lowered People’s United Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Zacks Investment Research downgraded GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. ValuEngine upgraded Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, BidaskClub downgraded Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. People’s United Financial presently has a consensus rating of “Hold” and an average price target of $19.70.
PBCT stock opened at $16.85 on Friday. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $19.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $16.30. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 6.15 and a beta of 1.22.
Several hedge funds have recently added to or reduced their stakes in PBCT. Knott David M acquired a new stake in shares of People’s United Financial during the 1st quarter worth $25,000. CSat Investment Advisory L.P. increased its holdings in shares of People’s United Financial by 64.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock worth $41,000 after buying an additional 1,106 shares during the last quarter. Huntington National Bank acquired a new stake in shares of People’s United Financial during the 1st quarter worth $47,000. Parallel Advisors LLC increased its holdings in shares of People’s United Financial by 125.9% during the 1st quarter. Parallel Advisors LLC now owns 2,955 shares of the bank’s stock worth $49,000 after buying an additional 1,647 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of People’s United Financial by 123.2% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,500 shares of the bank’s stock worth $51,000 after buying an additional 1,932 shares during the last quarter. Institutional investors and hedge funds own 75.82% of the company’s stock.
In other news, CFO R David Rosato sold 39,250 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $16.20, for a total transaction of $635,850.00. Following the completion of the sale, the chief financial officer now directly owns 137,952 shares in the company, valued at approximately $2,234,822.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark F. Herron sold 4,466 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.36, for a total value of $77,529.76. The disclosure for this sale can be found here. Insiders own 2.40% 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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