Renaissance Technologies LLC lifted its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 31.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,011,786 shares of the bank’s stock after acquiring an additional 240,000 shares during the quarter. Renaissance Technologies LLC owned 0.29% of People’s United Financial worth $18,303,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PBCT. US Bancorp DE grew its position in People’s United Financial by 36.8% during the first quarter. US Bancorp DE now owns 11,698 shares of the bank’s stock worth $218,000 after buying an additional 3,144 shares during the period. Tyers Asset Management LLC grew its position in People’s United Financial by 1.8% during the second quarter. Tyers Asset Management LLC now owns 191,048 shares of the bank’s stock worth $3,456,000 after buying an additional 3,322 shares during the period. Nisa Investment Advisors LLC grew its position in People’s United Financial by 4.9% during the second quarter. Nisa Investment Advisors LLC now owns 74,605 shares of the bank’s stock worth $1,350,000 after buying an additional 3,500 shares during the period. Creative Planning grew its position in People’s United Financial by 4.7% during the second quarter. Creative Planning now owns 78,829 shares of the bank’s stock worth $1,426,000 after buying an additional 3,506 shares during the period. Finally, Riverhead Capital Management LLC grew its position in People’s United Financial by 1.8% during the second quarter. Riverhead Capital Management LLC now owns 217,235 shares of the bank’s stock worth $3,930,000 after buying an additional 3,906 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Several brokerages have weighed in on PBCT. ValuEngine upgraded shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Morgan Stanley upped their target price on shares of People’s United Financial from $20.50 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 24th. BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Zacks Investment Research lowered shares of People’s United Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of People’s United Financial from a “market perform” rating to an “outperform” rating and set a $16.00 target price on the stock in a research report on Tuesday, June 19th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. People’s United Financial currently has a consensus rating of “Hold” and a consensus price target of $20.21.

In other news, VP Robert E. Trautmann sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $18.34, for a total value of $183,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert E. Trautmann sold 75,404 shares of the stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $18.27, for a total transaction of $1,377,631.08. Following the completion of the sale, the vice president now owns 69,193 shares in the company, valued at $1,264,156.11. The disclosure for this sale can be found here. Insiders sold 155,454 shares of company stock worth $2,835,231 over the last quarter. Company insiders own 2.50% of the company’s stock.

PBCT stock opened at $17.20 on Thursday. The company has a market capitalization of $6.12 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 6.79 and a beta of 0.91. People’s United Financial, Inc. has a 12 month low of $17.18 and a 12 month high of $20.26. 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 (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, July 19th. The bank reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $396.10 million for the quarter, compared to analyst estimates of $395.57 million. People’s United Financial had a net margin of 23.24% and a return on equity of 7.57%. During the same period in the prior year, the business earned $0.19 earnings per share. equities analysts anticipate that People’s United Financial, Inc. will post 1.29 EPS for the current fiscal year.

People’s United Financial 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.

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

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