Alps Advisors Inc. raised its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 2,659,778 shares of the bank’s stock after buying an additional 162,740 shares during the period. Alps Advisors Inc.’s holdings in People’s United Financial were worth $46,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PBCT. Vanguard Group Inc. raised its stake in People’s United Financial by 10.1% in the first quarter. Vanguard Group Inc. now owns 32,902,001 shares of the bank’s stock worth $598,816,000 after buying an additional 3,027,697 shares during the period. BlackRock Inc. raised its stake in People’s United Financial by 2,026.9% in the first quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock worth $486,681,000 after buying an additional 25,483,451 shares during the period. Wells Fargo & Company MN raised its stake in People’s United Financial by 10.6% in the first quarter. Wells Fargo & Company MN now owns 17,624,604 shares of the bank’s stock worth $320,768,000 after buying an additional 1,688,826 shares during the period. Dimensional Fund Advisors LP raised its stake in People’s United Financial by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,291,294 shares of the bank’s stock worth $150,905,000 after buying an additional 86,006 shares during the period. Finally, Epoch Investment Partners Inc. raised its stake in People’s United Financial by 6.5% in the first quarter. Epoch Investment Partners Inc. now owns 7,675,306 shares of the bank’s stock worth $139,691,000 after buying an additional 468,778 shares during the period. 75.03% of the stock is owned by hedge funds and other institutional investors.

People’s United Financial, Inc. (NASDAQ:PBCT) opened at 17.10 on Wednesday. People’s United Financial, Inc. has a 12 month low of $15.27 and a 12 month high of $20.13. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 19.13 and a beta of 0.82. The stock’s 50 day moving average is $17.57 and its 200-day moving average is $17.87.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by $0.04. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The company had revenue of $366.50 million during the quarter, compared to analyst estimates of $357.16 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that People’s United Financial, Inc. will post $0.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a $0.1725 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.69 annualized dividend and a dividend yield of 4.04%. People’s United Financial’s dividend payout ratio is currently 77.53%.

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PBCT has been the topic of a number of recent analyst reports. Morgan Stanley raised shares of People’s United Financial from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $16.50 to $17.50 in a research report on Monday, June 5th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, BidaskClub raised shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.25.

In other news, VP Robert E. Trautmann sold 118,836 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $17.08, for a total value of $2,029,718.88. Following the transaction, the vice president now directly owns 70,323 shares in the company, valued at approximately $1,201,116.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jerry Franklin sold 4,520 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $16.72, for a total transaction of $75,574.40. Following the completion of the transaction, the director now owns 97,249 shares in the company, valued at $1,626,003.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,115 shares of company stock worth $2,226,820. Company insiders own 2.70% of the company’s stock.

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.

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

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