AGF Investments LLC Makes New $697,000 Investment in People’s United Financial, Inc. (NASDAQ:PBCT)

AGF Investments LLC acquired a new position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,912 shares of the bank’s stock, valued at approximately $697,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of People’s United Financial by 2.2% in the second quarter. Vanguard Group Inc. now owns 46,848,773 shares of the bank’s stock valued at $802,988,000 after buying an additional 987,783 shares during the last quarter. BlackRock Inc. raised its position in shares of People’s United Financial by 1.2% in the second quarter. BlackRock Inc. now owns 35,090,349 shares of the bank’s stock valued at $601,447,000 after buying an additional 429,861 shares during the last quarter. Invesco Ltd. raised its position in shares of People’s United Financial by 11.4% in the second quarter. Invesco Ltd. now owns 13,468,849 shares of the bank’s stock valued at $230,856,000 after buying an additional 1,383,688 shares during the last quarter. Citigroup Inc. raised its position in shares of People’s United Financial by 146.8% in the third quarter. Citigroup Inc. now owns 6,956,029 shares of the bank’s stock valued at $121,521,000 after buying an additional 4,137,269 shares during the last quarter. Finally, Versor Investments LP grew its holdings in shares of People’s United Financial by 20.3% in the third quarter. Versor Investments LP now owns 5,792,874 shares of the bank’s stock valued at $101,202,000 after purchasing an additional 978,593 shares during the period. Institutional investors own 71.21% of the company’s stock.

A number of equities research analysts recently issued reports on PBCT shares. Morgan Stanley upped their price objective on shares of People’s United Financial from $21.00 to $22.75 and gave the company an “equal weight” rating in a report on Monday, December 6th. TheStreet lowered shares of People’s United Financial from a “b” rating to a “c+” rating in a research note on Thursday, October 21st. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, December 28th. Finally, Wells Fargo & Company lowered their target price on shares of People’s United Financial from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 4th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.11.

Shares of NASDAQ PBCT opened at $21.42 on Friday. The firm has a market capitalization of $9.17 billion, a P/E ratio of 14.00 and a beta of 1.10. People’s United Financial, Inc. has a one year low of $13.36 and a one year high of $21.44. The company’s fifty day moving average is $18.24 and its two-hundred day moving average is $17.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.89 and a current ratio of 0.89.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, October 21st. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $470.70 million for the quarter, compared to analysts’ expectations of $482.40 million. People’s United Financial had a return on equity of 8.50% and a net margin of 31.40%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, sell-side analysts forecast that People’s United Financial, Inc. will post 1.42 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Monday, November 1st were paid a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, October 29th. People’s United Financial’s dividend payout ratio (DPR) is presently 47.71%.

People’s United Financial Company Profile

People’s United Financial, Inc is a bank and financial holding company, which engages in the commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. It operates through the Commercial Banking and Retail Banking segments. The Commercial Banking segment offers commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending, and the equipment financing operations.

Further Reading: What are CEFs?

Want to see what other hedge funds are holding PBCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for People’s United Financial, Inc. (NASDAQ:PBCT).

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

Receive News & Ratings for People's United Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's United Financial and related companies with MarketBeat.com's FREE daily email newsletter.