Wall Street analysts forecast that People’s United Financial, Inc. (NASDAQ:PBCT) will post $454.30 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for People’s United Financial’s earnings. The lowest sales estimate is $445.00 million and the highest is $465.90 million. People’s United Financial reported sales of $398.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.9%. The company is expected to report its next quarterly earnings report on Thursday, October 17th.
According to Zacks, analysts expect that People’s United Financial will report full year sales of $1.81 billion for the current year, with estimates ranging from $1.77 billion to $1.85 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.04 billion, with estimates ranging from $2.00 billion to $2.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover People’s United Financial.
People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. The firm had revenue of $454.40 million for the quarter, compared to analyst estimates of $448.83 million. People’s United Financial had a net margin of 23.51% and a return on equity of 8.21%. During the same quarter in the prior year, the business earned $0.32 earnings per share.
Shares of NASDAQ:PBCT traded up $0.32 during midday trading on Tuesday, reaching $14.50. The company’s stock had a trading volume of 12,563,700 shares, compared to its average volume of 4,437,352. The firm has a market capitalization of $5.65 billion, a PE ratio of 11.07, a P/E/G ratio of 5.34 and a beta of 1.21. People’s United Financial has a twelve month low of $13.66 and a twelve month high of $18.95. The stock has a fifty day moving average of $16.13 and a 200 day moving average of $16.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.1775 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.71 annualized dividend and a yield of 4.90%. People’s United Financial’s dividend payout ratio is presently 54.20%.
People’s United Financial announced that its board has approved a stock buyback plan on Thursday, July 18th that permits the company to buyback 20,000,000 outstanding shares. This buyback authorization permits the bank to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, CFO R David Rosato sold 39,250 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.20, for a total transaction of $635,850.00. Following the sale, the chief financial officer now owns 137,952 shares in the company, valued at $2,234,822.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Knott David M purchased a new position in People’s United Financial during the first quarter valued at $25,000. Amica Retiree Medical Trust purchased a new position in People’s United Financial during the second quarter valued at $30,000. Doyle Wealth Management purchased a new position in People’s United Financial during the second quarter valued at $38,000. Huntington National Bank purchased a new position in People’s United Financial during the first quarter valued at $47,000. Finally, AGF Investments LLC purchased a new position in People’s United Financial during the second quarter valued at $48,000. Institutional investors own 75.48% 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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