Tdam USA Inc. lowered its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 2.8% in the first quarter, HoldingsChannel.com reports. The fund owned 44,542 shares of the bank’s stock after selling 1,298 shares during the quarter. Tdam USA Inc.’s holdings in People’s United Financial were worth $732,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in People’s United Financial by 63.3% during the third quarter. JPMorgan Chase & Co. now owns 1,405,128 shares of the bank’s stock valued at $24,055,000 after buying an additional 544,832 shares during the last quarter. Vanguard Group Inc increased its holdings in People’s United Financial by 1.6% during the third quarter. Vanguard Group Inc now owns 37,208,597 shares of the bank’s stock valued at $637,012,000 after buying an additional 582,938 shares during the last quarter. First Hawaiian Bank increased its holdings in People’s United Financial by 462.5% during the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock valued at $29,000 after buying an additional 1,665 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in People’s United Financial by 22.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 18,003 shares of the bank’s stock valued at $260,000 after buying an additional 3,317 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in People’s United Financial by 13.3% during the fourth quarter. DNB Asset Management AS now owns 35,009 shares of the bank’s stock valued at $505,000 after buying an additional 4,100 shares during the last quarter. 77.52% of the stock is owned by institutional investors.

PBCT stock traded up $0.12 during midday trading on Tuesday, reaching $16.37. 57,001 shares of the company’s stock traded hands, compared to its average volume of 3,636,953. People’s United Financial, Inc. has a 52-week low of $13.66 and a 52-week high of $19.37. The stock has a market cap of $6.45 billion, a P/E ratio of 12.52, a P/E/G ratio of 5.88 and a beta of 1.17. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.39.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.33. The firm had revenue of $427.40 million during the quarter, compared to analysts’ expectations of $432.11 million. People’s United Financial had a net margin of 23.64% and a return on equity of 8.16%. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, equities analysts forecast that People’s United Financial, Inc. will post 1.38 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.1775 dividend. The ex-dividend date was Tuesday, April 30th. This is a boost from People’s United Financial’s previous quarterly dividend of $0.18. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.34%. People’s United Financial’s dividend payout ratio is 54.20%.

A number of brokerages have commented on PBCT. ValuEngine raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Monday, April 29th. BidaskClub raised shares of People’s United Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, FIG Partners cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.70.

In other news, insider Mark F. Herron sold 4,466 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.36, for a total value of $77,529.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry Franklin sold 4,800 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.99, for a total transaction of $86,352.00. Following the completion of the sale, the director now directly owns 93,317 shares of the company’s stock, valued at $1,678,772.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,885 shares of company stock valued at $2,898,495. Corporate insiders own 2.40% of the company’s stock.

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People’s United Financial Company Profile

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.

Further Reading: How To Calculate Debt-to-Equity Ratio

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)

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