Brokers Issued Awaitations for People’s United Financial, Inc.’s Q1 2019 Revenue (PBCT)

Brokers Issued Awaitations for People’s United Financial, Inc.’s Q1 2019 Revenue (PBCT)

People’s United Financial, Inc. (NASDAQ:PBCT) – Equities researchers at Jefferies Financial Group issued their Q1 2019 earnings estimates for shares of People’s United Financial in a research report issued to clients and investors on Tuesday, October 9th. Jefferies Financial Group analyst C. Haire anticipates that the bank will earn $0.33 per share for the quarter. Jefferies Financial Group also issued estimates for People’s United Financial’s Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.37 EPS and Q4 2019 earnings at $0.38 EPS.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, July 19th. The bank reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $396.10 million during the quarter, compared to analysts’ expectations of $395.57 million. People’s United Financial had a net margin of 23.24% and a return on equity of 7.57%. During the same period last year, the business earned $0.19 EPS.

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Several other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. Wells Fargo & Co set a $18.00 price target on shares of People’s United Financial and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 price target on shares of People’s United Financial in a research note on Monday, July 23rd. ValuEngine raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Zacks Investment Research cut shares of People’s United Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.81.

Shares of PBCT opened at $17.19 on Wednesday. The company has a market cap of $5.97 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 6.63 and a beta of 0.93. People’s United Financial has a twelve month low of $16.71 and a twelve month high of $20.26. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.98 and a quick ratio of 0.98.

Several large investors have recently added to or reduced their stakes in PBCT. Summit Trail Advisors LLC grew its stake in shares of People’s United Financial by 1,843.8% in the first quarter. Summit Trail Advisors LLC now owns 105,819 shares of the bank’s stock valued at $106,000 after buying an additional 100,375 shares in the last quarter. FineMark National Bank & Trust bought a new position in shares of People’s United Financial in the second quarter valued at $150,000. Argent Trust Co bought a new position in shares of People’s United Financial in the second quarter valued at $182,000. Advisor Partners LLC bought a new position in shares of People’s United Financial in the second quarter valued at $203,000. Finally, Verity Asset Management Inc. bought a new position in shares of People’s United Financial in the second quarter valued at $323,000. 78.19% of the stock is owned by institutional investors and hedge funds.

In related news, Director George P. Carter sold 10,874 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.70, for a total value of $203,343.80. Following the completion of the transaction, the director now directly owns 13,758 shares of the company’s stock, valued at $257,274.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert E. Trautmann sold 75,404 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $18.27, for a total transaction of $1,377,631.08. Following the completion of the transaction, the vice president now directly owns 69,193 shares of the company’s stock, valued at $1,264,156.11. The disclosure for this sale can be found here. Insiders have sold a total of 155,454 shares of company stock valued at $2,835,231 over the last ninety days. Company insiders own 2.50% of the company’s stock.

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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