Zacks: Analysts Expect People’s United Financial, Inc. (NASDAQ:PBCT) Will Post Earnings of $0.33 Per Share

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Equities research analysts predict that People’s United Financial, Inc. (NASDAQ:PBCT) will post $0.33 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for People’s United Financial’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.31. People’s United Financial reported earnings per share of $0.36 in the same quarter last year, which indicates a negative year over year growth rate of 8.3%. The company is expected to issue its next earnings report on Thursday, January 16th.

On average, analysts expect that People’s United Financial will report full-year earnings of $1.35 per share for the current financial year, with EPS estimates ranging from $1.34 to $1.37. For the next financial year, analysts anticipate that the firm will post earnings of $1.37 per share, with EPS estimates ranging from $1.30 to $1.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. People’s United Financial had a return on equity of 8.17% and a net margin of 23.32%. The business had revenue of $462.00 million during the quarter, compared to the consensus estimate of $452.39 million. During the same quarter last year, the company earned $0.33 EPS. The firm’s revenue was up .1% compared to the same quarter last year.

PBCT has been the subject of several analyst reports. Morgan Stanley cut their target price on People’s United Financial from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. DA Davidson restated a “buy” rating on shares of People’s United Financial in a research note on Wednesday, September 11th. Raymond James initiated coverage on People’s United Financial in a research note on Tuesday, November 26th. They issued a “market perform” rating for the company. BidaskClub upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. People’s United Financial presently has a consensus rating of “Hold” and a consensus price target of $17.00.

NASDAQ PBCT traded up $0.04 during trading hours on Tuesday, hitting $16.54. The company had a trading volume of 2,013,743 shares, compared to its average volume of 3,623,752. People’s United Financial has a 52 week low of $13.66 and a 52 week high of $18.03. The firm has a 50 day simple moving average of $16.56 and a 200 day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 6.13 and a beta of 1.26.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.28%. People’s United Financial’s dividend payout ratio (DPR) is presently 54.20%.

In related news, EVP William M. Sheedy sold 21,164 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $179.41, for a total value of $3,797,033.24. Also, VP David K. Norton sold 238,350 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.65, for a total value of $3,968,527.50. Following the completion of the sale, the vice president now owns 290,491 shares of the company’s stock, valued at approximately $4,836,675.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 429,175 shares of company stock valued at $10,569,273. Corporate insiders own 2.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PBCT. FMR LLC lifted its position in People’s United Financial by 10.8% in the 1st quarter. FMR LLC now owns 138,970 shares of the bank’s stock worth $2,285,000 after buying an additional 13,596 shares during the last quarter. NEXT Financial Group Inc bought a new stake in People’s United Financial in the 2nd quarter worth approximately $150,000. Zeke Capital Advisors LLC lifted its position in People’s United Financial by 3.1% in the 2nd quarter. Zeke Capital Advisors LLC now owns 25,385 shares of the bank’s stock worth $426,000 after buying an additional 752 shares during the last quarter. Arizona State Retirement System lifted its position in People’s United Financial by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 75,007 shares of the bank’s stock worth $1,259,000 after buying an additional 2,498 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in People’s United Financial by 1.9% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 210,925 shares of the bank’s stock worth $3,539,000 after buying an additional 3,900 shares during the last quarter. Institutional investors own 75.83% 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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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