People's United Financial (PBCT) Price Target Increased to $20.00 by Analysts at Barclays

People's United Financial (NASDAQ:PBCT) had its target price increased by Barclays from $18.00 to $20.00 in a research report released on Tuesday. The firm currently has an underweight rating on the bank’s stock.

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded People's United Financial from a buy rating to a hold rating in a research note on Tuesday, December 26th. Piper Jaffray Companies restated a sell rating and set a $17.00 price objective on shares of People's United Financial in a research note on Sunday, October 22nd. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $19.34.

Shares of People's United Financial (NASDAQ PBCT) traded down $0.08 on Tuesday, reaching $18.72. The company had a trading volume of 2,472,070 shares, compared to its average volume of 2,628,200. The company has a market cap of $6,510.00, a P/E ratio of 20.57, a P/E/G ratio of 8.36 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 0.98. People's United Financial has a 52-week low of $15.97 and a 52-week high of $19.85.

People's United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The firm had revenue of $373.90 million during the quarter, compared to the consensus estimate of $374.59 million. People's United Financial had a return on equity of 6.28% and a net margin of 19.32%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. equities analysts predict that People's United Financial will post 1 EPS for the current year.

In other People's United Financial news, insider Sara M. Longobardi sold 43,450 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $18.68, for a total transaction of $811,646.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janet M. Hansen sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $19.14, for a total value of $191,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 724,338 shares of company stock valued at $13,796,084 in the last quarter. 2.70% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of People's United Financial by 16.0% in the third quarter. Parametric Portfolio Associates LLC now owns 1,586,436 shares of the bank’s stock valued at $28,778,000 after buying an additional 218,694 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of People's United Financial in the third quarter valued at $416,000. IFM Investors Pty Ltd lifted its holdings in shares of People's United Financial by 35.0% in the third quarter. IFM Investors Pty Ltd now owns 26,792 shares of the bank’s stock valued at $486,000 after buying an additional 6,949 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of People's United Financial by 6.9% in the third quarter. Ameritas Investment Partners Inc. now owns 67,141 shares of the bank’s stock valued at $1,206,000 after buying an additional 4,315 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of People's United Financial by 2.2% in the third quarter. California Public Employees Retirement System now owns 1,083,111 shares of the bank’s stock valued at $19,648,000 after buying an additional 23,383 shares during the period. Institutional investors and hedge funds own 75.52% of the company’s stock.

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People's United Financial Company 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.

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

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