People’s United Financial, Inc. (NASDAQ:PBCT)‘s stock had its “sell” rating reaffirmed by research analysts at Piper Jaffray Companies in a research note issued to investors on Sunday. They currently have a $17.00 price objective on the bank’s stock. Piper Jaffray Companies’ target price suggests a potential downside of 10.01% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price target on shares of People’s United Financial in a report on Friday, August 18th. Zacks Investment Research downgraded People’s United Financial from a “buy” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub downgraded People’s United Financial from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and set a $17.75 price objective (up from $17.50) on shares of People’s United Financial in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. People’s United Financial has an average rating of “Hold” and a consensus price target of $18.86.

Shares of People’s United Financial (NASDAQ PBCT) opened at 18.89 on Friday. The firm’s 50-day moving average price is $17.59 and its 200-day moving average price is $17.41. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 21.13 and a beta of 0.84. People’s United Financial has a 12 month low of $15.97 and a 12 month high of $20.13.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. People’s United Financial had a return on equity of 6.40% and a net margin of 19.32%. The company had revenue of $373.90 million during the quarter, compared to the consensus estimate of $374.59 million. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that People’s United Financial will post $0.93 earnings per share for the current year.

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In related news, insider Jeffrey Hoyt sold 6,759 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet M. Hansen sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total value of $205,680.00. Following the transaction, the director now directly owns 145,707 shares of the company’s stock, valued at $2,497,417.98. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Glassman Wealth Services boosted its position in People’s United Financial by 4,150.7% during the second quarter. Glassman Wealth Services now owns 5,696 shares of the bank’s stock valued at $101,000 after purchasing an additional 5,562 shares during the last quarter. Ffcm LLC boosted its position in People’s United Financial by 208.3% during the second quarter. Ffcm LLC now owns 6,345 shares of the bank’s stock valued at $114,000 after purchasing an additional 4,287 shares during the last quarter. Advisory Services Network LLC boosted its position in People’s United Financial by 3.0% during the second quarter. Advisory Services Network LLC now owns 7,757 shares of the bank’s stock valued at $137,000 after purchasing an additional 226 shares during the last quarter. Federated Investors Inc. PA boosted its position in People’s United Financial by 0.8% during the second quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after purchasing an additional 80 shares during the last quarter. Finally, Intl Fcstone Inc. acquired a new position in People’s United Financial during the second quarter valued at approximately $185,000. 77.19% of the stock is owned by hedge funds and other institutional investors.

About People’s United Financial

People’s United Financial, Inc is a bank holding company and a financial holding company of People’s United Bank (the Bank). The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company operates through two segments: Commercial Banking and Retail Banking.

Analyst Recommendations for People`s United Financial (NASDAQ:PBCT)

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