GWM Advisors LLC Invests $575,000 in People's United Financial, Inc. (PBCT)

GWM Advisors LLC bought a new stake in shares of People's United Financial, Inc. (NASDAQ:PBCT) during the first quarter, Holdings Channel reports. The institutional investor bought 32,532 shares of the bank’s stock, valued at approximately $575,000.

Several other large investors have also recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of People's United Financial during the first quarter valued at approximately $137,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of People's United Financial by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,076 shares of the bank’s stock valued at $137,000 after buying an additional 394 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of People's United Financial by 19.2% in the first quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the bank’s stock valued at $158,000 after buying an additional 1,400 shares in the last quarter. Federated Investors Inc. PA purchased a new stake in shares of People's United Financial during the fourth quarter valued at approximately $184,000. Finally, Macquarie Group Ltd. increased its stake in shares of People's United Financial by 25.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,800 shares of the bank’s stock valued at $189,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 80.80% of the company’s stock.

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

Shares of People's United Financial, Inc. (NASDAQ:PBCT) traded up 0.18% on Friday, reaching $16.77. 2,130,308 shares of the company traded hands. People's United Financial, Inc. has a one year low of $13.80 and a one year high of $20.13. The company has a market capitalization of $5.21 billion, a P/E ratio of 18.09 and a beta of 0.83. The firm’s 50 day moving average is $17.54 and its 200 day moving average is $18.46.

People's United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, April 20th. The bank reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $342.80 million for the quarter, compared to analyst estimates of $336.29 million. People's United Financial had a return on equity of 5.86% and a net margin of 19.12%. People's United Financial’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. Analysts expect that People's United Financial, Inc. will post $0.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were paid a $0.1725 dividend. The ex-dividend date of this dividend was Thursday, April 27th. This is a positive change from People's United Financial’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a yield of 4.12%. People's United Financial’s dividend payout ratio (DPR) is 73.91%.

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Several brokerages have recently commented on PBCT. Keefe, Bruyette & Woods restated a “hold” rating on shares of People's United Financial in a research note on Tuesday, May 9th. Zacks Investment Research downgraded shares of People's United Financial from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Barclays PLC upped their price target on shares of People's United Financial from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, January 20th. Finally, Sandler O’Neill upgraded shares of People's United Financial from a “sell” rating to a “hold” rating and upped their price target for the stock from $17.00 to $19.50 in a research report on Friday, March 10th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. People's United Financial currently has a consensus rating of “Hold” and a consensus price target of $18.31.

In other news, insider Galan G. Daukas sold 9,143 shares of People's United Financial stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $19.21, for a total transaction of $175,637.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David K. Norton sold 149,965 shares of People's United Financial stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $19.24, for a total value of $2,885,326.60. Following the sale, the vice president now directly owns 276,891 shares in the company, valued at $5,327,382.84. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

People's United Financial Company Profile

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.

5 Day Chart for NASDAQ:PBCT

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