Ffcm LLC Grows Position in People’s United Financial, Inc. (NASDAQ:PBCT)

Ffcm LLC boosted its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 208.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,345 shares of the bank’s stock after buying an additional 4,287 shares during the period. Ffcm LLC’s holdings in People’s United Financial were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in People’s United Financial by 10.1% during the first quarter. Vanguard Group Inc. now owns 32,902,001 shares of the bank’s stock valued at $598,816,000 after buying an additional 3,027,697 shares during the last quarter. BlackRock Inc. boosted its stake in People’s United Financial by 2,026.9% during the first quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock valued at $486,681,000 after buying an additional 25,483,451 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in People’s United Financial by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 8,291,294 shares of the bank’s stock valued at $150,905,000 after buying an additional 86,006 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in People’s United Financial by 6.5% during the first quarter. Epoch Investment Partners Inc. now owns 7,675,306 shares of the bank’s stock valued at $139,691,000 after buying an additional 468,778 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in People’s United Financial by 22.6% during the first quarter. Geode Capital Management LLC now owns 3,698,627 shares of the bank’s stock valued at $67,221,000 after buying an additional 681,996 shares during the last quarter. 77.02% of the stock is owned by institutional investors.

In related news, insider Jeffrey Hoyt sold 6,759 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total transaction of $121,526.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Several research firms have recently issued reports on PBCT. BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Morgan Stanley raised People’s United Financial from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $16.50 to $17.50 in a research note on Monday, June 5th. They noted that the move was a valuation call. Zacks Investment Research lowered People’s United Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a research note on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.38.

Shares of People’s United Financial, Inc. (PBCT) traded up 0.507% during mid-day trading on Friday, reaching $16.855. The company’s stock had a trading volume of 787,595 shares. The stock has a 50 day moving average of $16.94 and a 200-day moving average of $17.55. The stock has a market cap of $5.69 billion, a P/E ratio of 18.853 and a beta of 0.82. People’s United Financial, Inc. has a one year low of $15.28 and a one year high of $20.13.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The company had revenue of $366.50 million during the quarter, compared to the consensus estimate of $357.16 million. During the same period in the previous year, the firm posted $0.23 EPS. People’s United Financial’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts expect that People’s United Financial, Inc. will post $0.93 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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