Beacon Investment Advisory Services Inc. Takes Position in People's United Financial, Inc. (PBCT)

Beacon Investment Advisory Services Inc. acquired a new position in shares of People's United Financial, Inc. (NASDAQ:PBCT) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 256,223 shares of the bank’s stock, valued at approximately $4,647,000. Beacon Investment Advisory Services Inc. owned approximately 0.07% of People's United Financial at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Crawford Investment Counsel Inc. boosted its holdings in shares of People's United Financial by 7.8% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 2,882,016 shares of the bank’s stock worth $50,896,000 after purchasing an additional 207,716 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of People's United Financial by 7.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,083,768 shares of the bank’s stock worth $19,139,000 after purchasing an additional 72,489 shares during the last quarter. Capital Advisors Inc. OK boosted its holdings in shares of People's United Financial by 4.3% during the 2nd quarter. Capital Advisors Inc. OK now owns 694,082 shares of the bank’s stock worth $12,257,000 after purchasing an additional 28,878 shares during the last quarter. Bank of Hawaii acquired a new position in shares of People's United Financial during the 3rd quarter worth approximately $818,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of People's United Financial by 23.6% during the 2nd quarter. Pacer Advisors Inc. now owns 50,410 shares of the bank’s stock worth $890,000 after purchasing an additional 9,641 shares during the last quarter. Institutional investors own 75.67% of the company’s stock.

People's United Financial, Inc. (PBCT) opened at $18.84 on Monday. People's United Financial, Inc. has a twelve month low of $15.97 and a twelve month high of $20.04. The company has a market capitalization of $6,523.38, a P/E ratio of 19.63, a P/E/G ratio of 9.57 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.98 and a quick ratio of 0.98.

People's United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. People's United Financial had a return on equity of 6.28% and a net margin of 19.32%. The firm had revenue of $373.90 million for the quarter, compared to analysts’ expectations of $374.59 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. equities analysts anticipate that People's United Financial, Inc. will post 0.98 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Tuesday, October 31st. People's United Financial’s dividend payout ratio is presently 75.83%.

In related news, insider Jeffrey J. Tengel sold 173,685 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $19.32, for a total value of $3,355,594.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David K. Norton sold 108,194 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total value of $2,079,488.68. The disclosure for this sale can be found here. Insiders sold 736,338 shares of company stock worth $14,001,764 over the last quarter. 2.70% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on PBCT. Piper Jaffray Companies set a $16.00 target price on People's United Financial and gave the stock a “sell” rating in a report on Thursday, August 17th. Zacks Investment Research cut People's United Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Jefferies Group reiterated a “hold” rating and issued a $19.00 price objective on shares of People's United Financial in a report on Friday, August 18th. Three investment 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. People's United Financial presently has an average rating of “Hold” and an average price target of $19.19.

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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.

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

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