Alliancebernstein L.P. Increases Holdings in People’s United Financial, Inc. (PBCT)
Alliancebernstein L.P. boosted its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 34.8% in the third quarter, Holdings Channel reports. The fund owned 742,421 shares of the bank’s stock after buying an additional 191,708 shares during the quarter. Alliancebernstein L.P.’s holdings in People’s United Financial were worth $12,710,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. raised its position in People’s United Financial by 0.6% during the second quarter. BlackRock Inc. now owns 32,213,648 shares of the bank’s stock worth $582,747,000 after acquiring an additional 190,316 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of People’s United Financial by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 9,386,117 shares of the bank’s stock worth $169,799,000 after buying an additional 185,833 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of People’s United Financial by 1.0% during the second quarter. Great West Life Assurance Co. Can now owns 2,962,033 shares of the bank’s stock worth $53,674,000 after buying an additional 28,462 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of People’s United Financial by 6.4% during the third quarter. Alps Advisors Inc. now owns 2,677,953 shares of the bank’s stock worth $45,847,000 after buying an additional 160,452 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of People’s United Financial by 13.6% during the second quarter. Millennium Management LLC now owns 2,107,785 shares of the bank’s stock worth $38,130,000 after buying an additional 251,814 shares in the last quarter. Institutional investors own 73.67% of the company’s stock.
In related news, VP Lee C. Powlus sold 48,200 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $17.97, for a total value of $866,154.00. Following the completion of the sale, the vice president now directly owns 146,050 shares in the company, valued at $2,624,518.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.
Shares of NASDAQ PBCT opened at $16.14 on Friday. The stock has a market cap of $6.15 billion, a PE ratio of 15.52, a PEG ratio of 6.33 and a beta of 0.96. People’s United Financial, Inc. has a 12 month low of $15.04 and a 12 month high of $20.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57.
People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, October 18th. The bank reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $398.70 million during the quarter, compared to the consensus estimate of $404.65 million. People’s United Financial had a net margin of 23.98% and a return on equity of 7.94%. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, research analysts predict that People’s United Financial, Inc. will post 1.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were issued a $0.175 dividend. The ex-dividend date was Wednesday, October 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.34%. People’s United Financial’s payout ratio is 67.31%.
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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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