BidaskClub downgraded shares of People’s United Financial (NASDAQ:PBCT) from a hold rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

PBCT has been the topic of several other reports. FIG Partners lowered shares of People’s United Financial from an outperform rating to a market perform rating in a research note on Monday, April 22nd. ValuEngine lowered shares of People’s United Financial from a hold rating to a sell rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $18.67.

Shares of PBCT stock opened at $14.50 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. People’s United Financial has a 1 year low of $13.66 and a 1 year high of $18.95. The firm’s fifty day moving average price is $16.13 and its two-hundred day moving average price is $16.63. The firm has a market capitalization of $5.65 billion, a P/E ratio of 10.43, a PEG ratio of 5.34 and a beta of 1.21.

People’s United Financial (NASDAQ:PBCT) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. People’s United Financial had a net margin of 23.51% and a return on equity of 8.21%. The firm had revenue of $454.40 million for the quarter, compared to analyst estimates of $448.83 million. During the same period in the previous year, the business earned $0.32 EPS. As a group, equities research analysts forecast that People’s United Financial will post 1.33 EPS for the current fiscal year.

People’s United Financial declared that its Board of Directors has approved a share repurchase plan on Thursday, July 18th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.1775 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Wednesday, July 31st. People’s United Financial’s dividend payout ratio (DPR) is presently 54.20%.

In other news, CFO R David Rosato sold 39,250 shares of People’s United Financial stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $16.20, for a total value of $635,850.00. Following the completion of the transaction, the chief financial officer now owns 137,952 shares of the company’s stock, valued at approximately $2,234,822.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PBCT. Knott David M bought a new position in shares of People’s United Financial in the 1st quarter valued at about $25,000. Amica Retiree Medical Trust bought a new stake in shares of People’s United Financial during the 2nd quarter worth about $30,000. Doyle Wealth Management bought a new stake in shares of People’s United Financial during the 2nd quarter worth about $38,000. Huntington National Bank bought a new stake in shares of People’s United Financial during the 1st quarter worth about $47,000. Finally, AGF Investments LLC bought a new stake in shares of People’s United Financial during the 2nd quarter worth about $48,000. 75.48% of the stock is owned by institutional investors.

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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