People’s United Financial, Inc. (PBCT) Forecasted to Post FY2018 Earnings of $1.31 Per Share

People’s United Financial, Inc. (NASDAQ:PBCT) – Equities research analysts at Jefferies Financial Group boosted their FY2018 earnings per share estimates for shares of People’s United Financial in a report released on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will earn $1.31 per share for the year, up from their previous estimate of $1.30. Jefferies Financial Group also issued estimates for People’s United Financial’s Q4 2018 earnings at $0.36 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.38 EPS, FY2019 earnings at $1.48 EPS and FY2020 earnings at $1.50 EPS.

PBCT has been the subject of a number of other research reports. FIG Partners assumed coverage on People’s United Financial in a research report on Thursday, December 20th. They issued an “outperform” rating for the company. BidaskClub raised People’s United Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. ValuEngine cut People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Wells Fargo & Co set a $18.00 price target on People’s United Financial and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research raised People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $19.93.

Shares of NASDAQ PBCT opened at $15.13 on Thursday. People’s United Financial has a one year low of $13.66 and a one year high of $20.26. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 5.31 and a beta of 1.06. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 18th. The bank reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. People’s United Financial had a return on equity of 7.94% and a net margin of 23.98%. The firm had revenue of $398.70 million for the quarter, compared to the consensus estimate of $404.65 million. During the same quarter in the previous year, the company posted $0.26 earnings per share.

Several hedge funds and other institutional investors have recently bought and sold shares of PBCT. IMS Capital Management acquired a new position in People’s United Financial in the 3rd quarter valued at approximately $60,000. Federated Investors Inc. PA acquired a new position in People’s United Financial in the 3rd quarter valued at approximately $117,000. Citizens Financial Group Inc RI acquired a new position in People’s United Financial in the 3rd quarter valued at approximately $159,000. GHP Investment Advisors Inc. acquired a new position in People’s United Financial in the 3rd quarter valued at approximately $173,000. Finally, Warren Averett Asset Management LLC acquired a new position in People’s United Financial in the 3rd quarter valued at approximately $179,000. 73.52% of the stock is owned by institutional investors and hedge funds.

In related news, VP David K. Norton sold 32,163 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total transaction of $478,907.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is owned by insiders.

About People’s United Financial

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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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