People’s United Financial (PBCT) Raised to Equal Weight at Barclays

Barclays upgraded shares of People’s United Financial (NASDAQ:PBCT) from an underweight rating to an equal weight rating in a research note issued to investors on Thursday morning, Marketbeat reports. Barclays currently has $18.00 price objective on the bank’s stock.

A number of other research analysts have also recently weighed in on the stock. BidaskClub raised shares of People’s United Financial from a sell rating to a hold rating in a research report on Friday, January 4th. Zacks Investment Research raised shares of People’s United Financial from a hold rating to a buy rating and set a $19.00 price target on the stock in a research report on Tuesday, October 9th. Wells Fargo & Co reaffirmed a hold rating on shares of People’s United Financial in a research report on Thursday, January 3rd. FIG Partners began coverage on shares of People’s United Financial in a research report on Thursday, December 20th. They set an outperform rating on the stock. Finally, ValuEngine cut shares of People’s United Financial from a hold rating to a sell rating in a research report on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $19.93.

PBCT opened at $15.21 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $20.26. The company has a market capitalization of $5.69 billion, a P/E ratio of 14.63, a P/E/G ratio of 5.31 and a beta of 1.06.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, October 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. The business had revenue of $398.70 million for the quarter, compared to analysts’ expectations of $404.65 million. During the same period last year, the company earned $0.26 earnings per share. As a group, equities research analysts anticipate that People’s United Financial will post 1.29 EPS for the current year.

In other People’s United Financial news, VP David K. Norton sold 32,163 shares of People’s United Financial stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $14.89, for a total transaction of $478,907.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. raised its stake in shares of People’s United Financial by 46.5% during the fourth quarter. YHB Investment Advisors Inc. now owns 18,727 shares of the bank’s stock valued at $270,000 after purchasing an additional 5,941 shares during the period. Sound Income Strategies LLC raised its stake in shares of People’s United Financial by 2.7% during the fourth quarter. Sound Income Strategies LLC now owns 48,891 shares of the bank’s stock valued at $705,000 after purchasing an additional 1,305 shares during the period. First Hawaiian Bank raised its stake in shares of People’s United Financial by 462.5% during the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,665 shares during the period. State of Alaska Department of Revenue raised its stake in shares of People’s United Financial by 7.5% during the fourth quarter. State of Alaska Department of Revenue now owns 126,044 shares of the bank’s stock valued at $1,817,000 after purchasing an additional 8,774 shares during the period. Finally, Retirement Systems of Alabama increased its stake in shares of People’s United Financial by 6.7% in the fourth quarter. Retirement Systems of Alabama now owns 171,682 shares of the bank’s stock worth $2,477,000 after buying an additional 10,806 shares during the last quarter. Institutional investors own 73.52% of the company’s stock.

About People’s United Financial

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.

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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