A number of firms have modified their ratings and price targets on shares of People’s United Financial (NASDAQ: PBCT) recently:

  • 9/24/2018 – People’s United Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock. According to Zacks, “Shares of People’s United have underperformed the industry in the past six months. Yet, the company possesses an impressive earnings surprise history, beating the Zacks Consensus Estimate in two of the trailing four quarters. People’s United is steadily growing through acquisitions, which is likely to continue in the near future, given its strong balance-sheet position. Recently, it acquired Vend Lease Company, with an aim to further build its equipment financing business. Though escalating expenses, despite undertaking initiatives to curb costs, remain a concern, the company remains committed to enhance shareholders’ value through active involvement in capital-deployment activities.”
  • 9/19/2018 – People’s United Financial was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 9/18/2018 – People’s United Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/7/2018 – People’s United Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/6/2018 – People’s United Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $21.00 price target on the stock. According to Zacks, “Shares of People’s United have outperformed the industry in the past three months. Further, the company possesses an impressive earnings surprise history, beating the Zacks Consensus Estimate in two of the trailing four quarters. Second-quarter 2018 results benefited from higher revenues and loan growth, partially offset by rise in costs and provisions. People’s United is steadily growing through acquisitions, which is likely to continue in the near future, given its strong balance-sheet position. Recently, it announced the acquisition of Vend Lease Company, with an aim to further build its equipment financing business. Also, the company remains committed to enhance shareholders’ value through active involvement in capital-deployment activities. Though, escalating expenses, despite undertaking initiatives to curb costs, remain a concern, People's United's improving asset quality remains a tailwind.”
  • 8/3/2018 – People’s United Financial was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of People’s United have outperformed the industry in the past three months. Further, the company possesses an impressive earnings surprise history, beating the Zacks Consensus Estimate in two of the trailing four quarters. Second-quarter 2018 results benefited from higher revenues and loan growth, partially offset by rise in costs and provisions. People’s United is steadily growing through acquisitions, which is likely to continue in the near future, given its strong balance-sheet position. Recently, it announced the acquisition of Vend Lease Company, with an aim to further build its equipment financing business. Also, the company remains committed to enhance shareholders’ value through active involvement in capital-deployment activities. Though, escalating expenses, despite undertaking initiatives to curb costs, remain a concern, People's United's improving asset quality remains a tailwind.”

NASDAQ PBCT traded down $0.03 during trading on Thursday, hitting $17.17. The company had a trading volume of 116,660 shares, compared to its average volume of 2,271,514. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78. People’s United Financial, Inc. has a one year low of $17.18 and a one year high of $20.26. The firm has a market capitalization of $6.13 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 6.80 and a beta of 0.91.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings data on Thursday, July 19th. The bank reported $0.32 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. People’s United Financial had a net margin of 23.24% and a return on equity of 7.57%. The business had revenue of $396.10 million during the quarter, compared to analyst estimates of $395.57 million. During the same period in the prior year, the business earned $0.19 EPS. sell-side analysts predict that People’s United Financial, Inc. will post 1.29 earnings per share for the current year.

In other People’s United Financial news, Director George P. Carter sold 10,874 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.70, for a total value of $203,343.80. Following the completion of the transaction, the director now directly owns 13,758 shares in the company, valued at approximately $257,274.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lee C. Powlus sold 48,200 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $17.97, for a total transaction of $866,154.00. Following the completion of the transaction, the vice president now owns 146,050 shares of the company’s stock, valued at $2,624,518.50. The disclosure for this sale can be found here. Insiders sold a total of 155,454 shares of company stock valued at $2,835,231 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Tibra Equities Europe Ltd bought a new position in shares of People’s United Financial in the 2nd quarter worth about $1,221,000. Great West Life Assurance Co. Can increased its stake in shares of People’s United Financial by 1.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 2,962,033 shares of the bank’s stock worth $53,674,000 after acquiring an additional 28,462 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of People’s United Financial in the 2nd quarter worth about $387,000. Tyers Asset Management LLC increased its stake in shares of People’s United Financial by 1.8% in the 2nd quarter. Tyers Asset Management LLC now owns 191,048 shares of the bank’s stock worth $3,456,000 after acquiring an additional 3,322 shares in the last quarter. Finally, Sei Investments Co. increased its stake in People’s United Financial by 45.4% during the 1st quarter. Sei Investments Co. now owns 21,734 shares of the bank’s stock valued at $406,000 after purchasing an additional 6,787 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

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.

Recommended Story: What is a Stop Order?

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