People's United Financial, Inc. (PBCT) Stake Reduced by Congress Asset Management Co. MA

Congress Asset Management Co. MA lowered its position in People's United Financial, Inc. (NASDAQ:PBCT) by 2.9% during the first quarter, Holdings Channel reports. The fund owned 420,873 shares of the bank’s stock after selling 12,502 shares during the period. Congress Asset Management Co. MA owned 0.14% of People's United Financial worth $7,660,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PBCT. Wade G W & Inc. boosted its stake in shares of People's United Financial by 0.5% in the third quarter. Wade G W & Inc. now owns 13,748 shares of the bank’s stock worth $217,000 after buying an additional 66 shares during the last quarter. Altfest L J & Co. Inc. boosted its stake in shares of People's United Financial by 0.5% in the third quarter. Altfest L J & Co. Inc. now owns 13,242 shares of the bank’s stock worth $209,000 after buying an additional 67 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of People's United Financial by 0.3% in the first quarter. Raymond James Trust N.A. now owns 27,053 shares of the bank’s stock worth $493,000 after buying an additional 74 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of People's United Financial by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,850 shares of the bank’s stock worth $346,000 after buying an additional 90 shares during the last quarter. Finally, National Planning Corp boosted its stake in shares of People's United Financial by 1.2% in the fourth quarter. National Planning Corp now owns 10,235 shares of the bank’s stock worth $190,000 after buying an additional 120 shares during the last quarter. 80.80% of the stock is owned by hedge funds and other institutional investors.

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

People's United Financial, Inc. (NASDAQ:PBCT) traded up 0.18% during midday trading on Friday, hitting $16.77. The stock had a trading volume of 2,130,308 shares. People's United Financial, Inc. has a 1-year low of $13.80 and a 1-year high of $20.13. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 18.09 and a beta of 0.83. The firm has a 50-day moving average price of $17.54 and a 200-day moving average price of $18.46.

People's United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, April 20th. The bank reported $0.22 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. People's United Financial had a return on equity of 5.86% and a net margin of 19.12%. The company had revenue of $342.80 million during the quarter, compared to the consensus estimate of $336.29 million. During the same period in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that People's United Financial, Inc. will post $0.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were paid a dividend of $0.1725 per share. This is an increase from People's United Financial’s previous quarterly dividend of $0.17. This represents a $0.69 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Thursday, April 27th. People's United Financial’s payout ratio is currently 73.91%.

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A number of brokerages have issued reports on PBCT. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.00 target price on shares of People's United Financial in a research report on Thursday, April 6th. Sandler O’Neill raised People's United Financial from a “sell” rating to a “hold” rating and upped their target price for the stock from $17.00 to $19.50 in a research report on Friday, March 10th. Zacks Investment Research raised People's United Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, March 27th. Finally, Barclays PLC upped their target price on 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. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.31.

In other news, VP David K. Norton sold 149,965 shares of People's United Financial stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $19.24, for a total transaction of $2,885,326.60. Following the completion of the transaction, the vice president now directly owns 276,891 shares in the company, valued at approximately $5,327,382.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Galan G. Daukas sold 9,143 shares of People's United Financial stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $19.21, for a total value of $175,637.03. The disclosure for this sale can be found here. 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.

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