Benjamin F. Edwards & Company Inc. Decreases Holdings in People’s United Financial, Inc. (PBCT)
Benjamin F. Edwards & Company Inc. trimmed its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 49.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,247 shares of the bank’s stock after selling 4,196 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in People’s United Financial were worth $61,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PBCT. Oppenheimer Asset Management Inc. purchased a new position in People’s United Financial in the 4th quarter worth approximately $28,000. First Hawaiian Bank lifted its stake in People’s United Financial by 462.5% in the 4th quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock worth $29,000 after purchasing an additional 1,665 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new stake in shares of People’s United Financial during the 4th quarter worth approximately $41,000. Cornerstone Advisors Inc. increased its holdings in shares of People’s United Financial by 32.4% during the 4th quarter. Cornerstone Advisors Inc. now owns 3,809 shares of the bank’s stock worth $55,000 after buying an additional 933 shares during the last quarter. Finally, IMS Capital Management acquired a new stake in shares of People’s United Financial during the 3rd quarter worth approximately $60,000. 73.92% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on PBCT. BidaskClub upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating in a report on Friday, January 25th. Barclays restated a “hold” rating and set a $19.00 price target on shares of People’s United Financial in a report on Sunday, January 20th. ValuEngine upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Zacks Investment Research downgraded shares of People’s United Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, Wells Fargo & Co restated a “hold” rating on shares of People’s United Financial in a report on Thursday, January 3rd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. People’s United Financial currently has an average rating of “Hold” and an average target price of $19.92.
People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, January 17th. The bank reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. People’s United Financial had a net margin of 24.34% and a return on equity of 8.11%. The firm had revenue of $428.20 million during the quarter, compared to the consensus estimate of $432.25 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that People’s United Financial, Inc. will post 1.4 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be issued a $0.175 dividend. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $0.70 annualized dividend and a yield of 4.10%. People’s United Financial’s dividend payout ratio (DPR) is presently 53.44%.
In other People’s United Financial news, Director Mark W. Richards sold 6,800 shares of the business’s stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $16.43, for a total value of $111,724.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David K. Norton sold 32,163 shares of the business’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total transaction of $478,907.07. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
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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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