People’s United Financial (PBCT) Issues Earnings Results

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People’s United Financial (NASDAQ:PBCT) announced its earnings results on Thursday, October 18th. The bank reported $0.33 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33, RTT News reports. The company had revenue of $398.70 million for the quarter, compared to analysts’ expectations of $404.65 million. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. During the same period last year, the firm earned $0.26 earnings per share.

Shares of PBCT stock traded down $0.15 during trading hours on Friday, hitting $15.70. 2,990,438 shares of the company’s stock traded hands, compared to its average volume of 4,519,006. The company has a market capitalization of $5.51 billion, a P/E ratio of 15.10, a PEG ratio of 6.12 and a beta of 0.96. People’s United Financial has a 12 month low of $15.04 and a 12 month high of $20.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Wednesday, October 31st. People’s United Financial’s payout ratio is currently 67.31%.

PBCT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, July 18th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.50 price target on shares of People’s United Financial in a research report on Monday, July 23rd. ValuEngine upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Morgan Stanley increased their price target on shares of People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 24th. Finally, BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $20.21.

In related news, Director George P. Carter sold 10,874 shares of People’s United Financial stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.70, for a total transaction of $203,343.80. Following the completion of the transaction, the director now owns 13,758 shares of the company’s stock, valued at $257,274.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Lee C. Powlus sold 48,200 shares of People’s United Financial stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $17.97, for a total transaction of $866,154.00. Following the transaction, the vice president now directly owns 146,050 shares of the company’s stock, valued at approximately $2,624,518.50. The disclosure for this sale can be found here. Insiders have sold 70,050 shares of company stock valued at $1,274,200 in the last ninety days. Insiders own 2.50% of the company’s stock.

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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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Earnings History for People`s United Financial (NASDAQ:PBCT)

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