People's United Financial (NASDAQ:PBCT) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of People's United Financial (NASDAQ:PBCT) from a hold rating to a buy rating in a research report released on Friday, February 16th.

Other analysts have also issued research reports about the company. Zacks Investment Research raised People's United Financial from a hold rating to a buy rating and set a $21.00 target price on the stock in a report on Tuesday, October 24th. Sandler O’Neill set a $21.00 price objective on People's United Financial and gave the company a hold rating in a research note on Thursday, January 18th. Piper Jaffray Companies reaffirmed a sell rating and set a $17.00 price objective on shares of People's United Financial in a research note on Sunday, October 22nd. Finally, Barclays increased their target price on People's United Financial from $18.00 to $20.00 and gave the stock an underweight rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $19.82.

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People's United Financial (NASDAQ PBCT) traded down $0.23 during trading on Friday, hitting $19.82. The stock had a trading volume of 3,232,355 shares, compared to its average volume of 2,990,000. People's United Financial has a twelve month low of $15.97 and a twelve month high of $20.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $6,860.00, a PE ratio of 20.86, a PEG ratio of 7.88 and a beta of 0.87.

People's United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The firm had revenue of $379.60 million during the quarter, compared to analysts’ expectations of $392.70 million. People's United Financial had a return on equity of 6.69% and a net margin of 20.37%. During the same quarter in the prior year, the business posted $0.25 earnings per share. sell-side analysts expect that People's United Financial will post 1.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were issued a dividend of $0.1725 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.69 annualized dividend and a dividend yield of 3.48%. People's United Financial’s payout ratio is currently 72.63%.

In related news, Director Jerry Franklin sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $19.91, for a total transaction of $85,613.00. Following the completion of the transaction, the director now owns 92,949 shares in the company, valued at approximately $1,850,614.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert E. Trautmann sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $19.86, for a total value of $595,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,127 shares of company stock worth $1,472,533. Company insiders own 2.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PBCT. CHURCHILL MANAGEMENT Corp bought a new stake in People's United Financial during the 4th quarter valued at $22,042,000. W. E. Donoghue & Co. LLC bought a new stake in shares of People's United Financial in the 2nd quarter worth $16,141,000. Goldman Sachs Group Inc. raised its stake in shares of People's United Financial by 17.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,834,322 shares of the bank’s stock worth $90,402,000 after buying an additional 704,522 shares in the last quarter. Millennium Management LLC raised its stake in shares of People's United Financial by 173.6% in the 4th quarter. Millennium Management LLC now owns 1,012,053 shares of the bank’s stock worth $18,925,000 after buying an additional 642,198 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of People's United Financial by 3.1% in the 4th quarter. Wells Fargo & Company MN now owns 19,109,237 shares of the bank’s stock worth $357,342,000 after buying an additional 567,940 shares in the last quarter. 76.23% of the stock is currently owned by hedge funds and other institutional investors.

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About People's United Financial

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.

Analyst Recommendations for People's United Financial (NASDAQ:PBCT)

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