People’s United Financial, Inc. (PBCT) Stake Raised by State of Wisconsin Investment Board

State of Wisconsin Investment Board increased its stake in People’s United Financial, Inc. (NASDAQ:PBCT) by 40.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,618 shares of the bank’s stock after buying an additional 19,849 shares during the quarter. State of Wisconsin Investment Board’s holdings in People’s United Financial were worth $1,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glassman Wealth Services boosted its holdings 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 buying an additional 5,562 shares during the last quarter. Ffcm LLC lifted its holdings in People’s United Financial by 208.3% during 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 lifted its holdings in People’s United Financial by 3.0% during 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. Benjamin F. Edwards & Company Inc. lifted its holdings in People’s United Financial by 1,408.7% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 7,996 shares of the bank’s stock valued at $145,000 after purchasing an additional 7,466 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in People’s United Financial by 0.8% during 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. 76.39% of the stock is owned by institutional investors.

In related news, CEO John P. Barnes sold 299,309 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.88, for a total value of $5,650,953.92. Following the transaction, the chief executive officer now owns 383,140 shares in the company, valued at $7,233,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet M. Hansen sold 12,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $17.14, for a total value of $205,680.00. Following the completion of the transaction, the director now owns 145,707 shares in the company, valued at approximately $2,497,417.98. The disclosure for this sale can be found here. Insiders sold 381,491 shares of company stock worth $7,173,247 in the last 90 days. 2.70% of the stock is owned by company insiders.

Several brokerages have issued reports on PBCT. Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, November 1st. Piper Jaffray Companies reiterated a “sell” rating and set a $17.00 price objective on shares of People’s United Financial in a research report on Sunday, October 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.08.

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People’s United Financial, Inc. (NASDAQ PBCT) opened at $18.20 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $6,298.32, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 9.24 and a beta of 0.85. People’s United Financial, Inc. has a 12-month low of $15.97 and a 12-month high of $20.13.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $373.90 million for the quarter, compared to analysts’ expectations of $374.59 million. People’s United Financial had a return on equity of 6.28% and a net margin of 19.32%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. sell-side analysts forecast that People’s United Financial, Inc. will post 0.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were given a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Tuesday, October 31st. People’s United Financial’s payout ratio is currently 75.83%.

People’s United Financial 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.

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

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