People’s United Financial, Inc. (PBCT) Upgraded at Zacks Investment Research

People’s United Financial, Inc. (NASDAQ:PBCT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Shares of People’s United have underperformed the industry in the last six months. The company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. The company is steadily growing through acquisitions, which is likely to continue in the near future, given its strong balance sheet position. Also, the company’s steady capital deployment activities continue to enhance investors’ confidence. However, escalating expenses despite undertaking initiatives to curb costs remains a concern. Further, a stretched valuation indicates limited upside potential for the stock.”

A number of other equities analysts have also weighed in on PBCT. Piper Jaffray Companies restated a “sell” rating and set a $16.00 price target on shares of People’s United Financial in a research report on Wednesday, October 4th. Jefferies Group LLC restated a “hold” rating and set a $19.00 price target on shares of People’s United Financial in a research report on Friday, August 18th. BidaskClub lowered shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $17.75 target price (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a report on Monday, July 10th. Three research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. People’s United Financial currently has a consensus rating of “Hold” and an average target price of $18.38.

Shares of People’s United Financial (PBCT) traded down 0.55% during midday trading on Monday, hitting $18.14. The company had a trading volume of 344,973 shares. People’s United Financial has a 12-month low of $15.28 and a 12-month high of $20.13. The firm has a market capitalization of $6.12 billion, a P/E ratio of 20.29 and a beta of 0.84. The firm’s 50-day moving average is $17.13 and its 200-day moving average is $17.39.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, analysts predict that People’s United Financial will post $0.93 earnings per share for the current fiscal year.

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In other People’s United Financial news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Janet M. Hansen sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the sale, the director now directly owns 145,707 shares in the company, valued at $2,497,417.98. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in PBCT. Glassman Wealth Services increased its position in shares of People’s United Financial by 4,150.7% in the 2nd quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock valued at $101,000 after purchasing an additional 5,562 shares during the last quarter. Ffcm LLC increased its position in shares of People’s United Financial by 208.3% in the 2nd quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock valued at $114,000 after purchasing an additional 4,287 shares during the last quarter. Advisory Services Network LLC increased its position in shares of People’s United Financial by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock valued at $137,000 after purchasing an additional 226 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of People’s United Financial by 0.8% in the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after purchasing an additional 80 shares during the last quarter. Finally, Intl Fcstone Inc. purchased a new stake in shares of People’s United Financial in the 2nd quarter valued at approximately $185,000. 77.20% of the stock is currently owned by institutional investors.

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

According to Zacks, “Shares of People’s United have underperformed the industry in the last six months. The company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. The company is steadily growing through acquisitions, which is likely to continue in the near future, given its strong balance sheet position. Also, the company’s steady capital deployment activities continue to enhance investors’ confidence. However, escalating expenses despite undertaking initiatives to curb costs remains a concern. Further, a stretched valuation indicates limited upside potential for the stock.”

A number of other equities analysts have also weighed in on PBCT. Piper Jaffray Companies restated a “sell” rating and set a $16.00 price target on shares of People’s United Financial in a research report on Wednesday, October 4th. Jefferies Group LLC restated a “hold” rating and set a $19.00 price target on shares of People’s United Financial in a research report on Friday, August 18th. BidaskClub lowered shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $17.75 target price (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a report on Monday, July 10th. Three research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. People’s United Financial currently has a consensus rating of “Hold” and an average target price of $18.38.

Shares of People’s United Financial (PBCT) traded down 0.55% during midday trading on Monday, hitting $18.14. The company had a trading volume of 344,973 shares. People’s United Financial has a 12-month low of $15.28 and a 12-month high of $20.13. The firm has a market capitalization of $6.12 billion, a P/E ratio of 20.29 and a beta of 0.84. The firm’s 50-day moving average is $17.13 and its 200-day moving average is $17.39.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, analysts predict that People’s United Financial will post $0.93 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/peoples-united-financial-inc-pbct-upgraded-at-zacks-investment-research.html.

In other People’s United Financial news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total value of $121,526.82. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Janet M. Hansen sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the sale, the director now directly owns 145,707 shares in the company, valued at $2,497,417.98. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in PBCT. Glassman Wealth Services increased its position in shares of People’s United Financial by 4,150.7% in the 2nd quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock valued at $101,000 after purchasing an additional 5,562 shares during the last quarter. Ffcm LLC increased its position in shares of People’s United Financial by 208.3% in the 2nd quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock valued at $114,000 after purchasing an additional 4,287 shares during the last quarter. Advisory Services Network LLC increased its position in shares of People’s United Financial by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock valued at $137,000 after purchasing an additional 226 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of People’s United Financial by 0.8% in the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after purchasing an additional 80 shares during the last quarter. Finally, Intl Fcstone Inc. purchased a new stake in shares of People’s United Financial in the 2nd quarter valued at approximately $185,000. 77.20% of the stock is currently owned by institutional investors.

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.

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

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