Webster Bank N. A. Has $108,000 Position in People’s United Financial, Inc. (PBCT)

Webster Bank N. A. held its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,093 shares of the bank’s stock at the end of the second quarter. Webster Bank N. A.’s holdings in People’s United Financial were worth $108,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PBCT. Vanguard Group Inc. raised its stake in shares of People’s United Financial by 10.1% in 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. raised its stake in shares of People’s United Financial by 2,026.9% in 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. Wells Fargo & Company MN raised its stake in shares of People’s United Financial by 10.6% in the first quarter. Wells Fargo & Company MN now owns 17,624,604 shares of the bank’s stock valued at $320,768,000 after buying an additional 1,688,826 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of People’s United Financial by 1.0% in 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. Finally, Epoch Investment Partners Inc. raised its stake in shares of People’s United Financial by 6.5% in 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. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of People’s United Financial, Inc. (PBCT) traded up 0.34% during mid-day trading on Tuesday, reaching $17.46. The company’s stock had a trading volume of 2,435,465 shares. People’s United Financial, Inc. has a 52 week low of $15.27 and a 52 week high of $20.13. The firm has a market capitalization of $5.89 billion, a PE ratio of 19.49 and a beta of 0.82. The firm has a 50-day moving average of $17.61 and a 200-day moving average of $17.98.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $357.16 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. People’s United Financial’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast that People’s United Financial, Inc. will post $0.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, July 28th. People’s United Financial’s payout ratio is presently 77.53%.

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PBCT has been the topic of several research reports. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. Morgan Stanley restated an “equal weight” rating and issued a $17.75 target price (up previously from $17.50) on shares of People’s United Financial in a research report on Friday, July 7th. Finally, BidaskClub upgraded People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. People’s United Financial currently has a consensus rating of “Hold” and an average price target of $18.25.

In other news, Director Jerry Franklin sold 4,520 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total transaction of $75,574.40. Following the completion of the sale, the director now owns 97,249 shares of the company’s stock, valued at $1,626,003.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert E. Trautmann sold 118,836 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $17.08, for a total transaction of $2,029,718.88. Following the sale, the vice president now directly owns 70,323 shares of the company’s stock, valued at approximately $1,201,116.84. The disclosure for this sale can be found here. Insiders sold 130,115 shares of company stock valued at $2,226,820 in the last ninety days. Insiders own 2.70% of the company’s stock.

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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