People’s United Financial, Inc. (NASDAQ:PBCT)‘s stock had its “sell” rating reaffirmed by equities researchers at Piper Jaffray Companies in a note issued to investors on Wednesday. They presently have a $16.00 price objective on the bank’s stock. Piper Jaffray Companies’ price target points to a potential downside of 12.09% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of People’s United Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, September 19th. 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 research report on Friday, July 7th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price objective on shares of People’s United Financial in a research report on Friday, August 18th. Finally, BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.38.

People’s United Financial (NASDAQ:PBCT) traded up 0.22% during midday trading on Wednesday, hitting $18.24. The stock had a trading volume of 1,048,259 shares. The stock has a market cap of $6.16 billion, a PE ratio of 20.40 and a beta of 0.84. People’s United Financial has a one year low of $15.28 and a one year high of $20.13. The firm has a 50 day moving average price of $17.08 and a 200 day moving average price of $17.39.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The firm had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $357.16 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that People’s United Financial will post $0.93 EPS for the current year.

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

A number of large investors have recently modified their holdings of PBCT. BlackRock Inc. boosted its holdings in People’s United Financial by 2,026.9% in the first quarter. BlackRock Inc. now owns 26,740,727 shares of the bank’s stock worth $486,681,000 after purchasing an additional 25,483,451 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in People’s United Financial by 9,587.6% in the second quarter. Janus Henderson Group PLC now owns 4,212,281 shares of the bank’s stock worth $74,389,000 after purchasing an additional 4,168,800 shares in the last quarter. Vanguard Group Inc. boosted its holdings in People’s United Financial by 10.1% in the first quarter. Vanguard Group Inc. now owns 32,902,001 shares of the bank’s stock worth $598,816,000 after purchasing an additional 3,027,697 shares in the last quarter. State Street Corp boosted its holdings in People’s United Financial by 6.2% in the second quarter. State Street Corp now owns 39,968,330 shares of the bank’s stock worth $705,843,000 after purchasing an additional 2,316,636 shares in the last quarter. Finally, Janus Capital Management LLC boosted its holdings in People’s United Financial by 86.2% in the first quarter. Janus Capital Management LLC now owns 3,574,254 shares of the bank’s stock worth $65,051,000 after purchasing an additional 1,654,567 shares in the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

People’s United Financial Company Profile

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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