People’s United Financial (NASDAQ:PBCT) Receives “Hold” Rating from Wells Fargo & Co

Wells Fargo & Co reaffirmed their hold rating on shares of People’s United Financial (NASDAQ:PBCT) in a research report sent to investors on Thursday, January 3rd.

A number of other research analysts also recently issued reports on PBCT. BidaskClub upgraded shares of People’s United Financial from a strong sell rating to a sell rating in a research report on Friday, October 5th. Zacks Investment Research upgraded shares of People’s United Financial from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Monday, September 24th. ValuEngine downgraded shares of People’s United Financial from a hold rating to a sell rating in a research report on Tuesday, September 18th. Finally, FIG Partners began coverage on People’s United Financial in a research note on Thursday, December 20th. They issued an outperform rating for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target 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 twelve month low of $13.66 and a twelve month high of $20.26. The stock has a market capitalization of $5.69 billion, a PE ratio of 14.63, a PEG ratio of 5.31 and a beta of 1.06.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly 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. The business had revenue of $398.70 million for the quarter, compared to the consensus estimate of $404.65 million. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. During the same quarter in the prior year, the company earned $0.26 EPS. Analysts expect that People’s United Financial will post 1.29 earnings per share for the current year.

In other news, VP David K. Norton sold 32,163 shares of the firm’s 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 Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in People’s United Financial by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,208,597 shares of the bank’s stock valued at $637,012,000 after purchasing an additional 582,938 shares during the last quarter. Vanguard Group Inc lifted its holdings in People’s United Financial by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock valued at $637,012,000 after purchasing an additional 582,938 shares during the last quarter. BlackRock Inc. lifted its holdings in People’s United Financial by 0.3% during the 3rd quarter. BlackRock Inc. now owns 32,317,685 shares of the bank’s stock valued at $553,280,000 after purchasing an additional 104,037 shares during the last quarter. Crawford Investment Counsel Inc. lifted its holdings in People’s United Financial by 2.7% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 3,375,377 shares of the bank’s stock valued at $57,786,000 after purchasing an additional 87,863 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in People’s United Financial by 6.4% during the 3rd quarter. Alps Advisors Inc. now owns 2,677,953 shares of the bank’s stock valued at $45,847,000 after purchasing an additional 160,452 shares during the last quarter. 73.52% of the stock is owned by institutional investors.

People’s United Financial Company Profile

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.

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

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