Surevest Inc. raised its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 15.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 120,367 shares of the bank’s stock after purchasing an additional 16,227 shares during the quarter. Surevest Inc.’s holdings in People’s United Financial were worth $2,034,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in People’s United Financial by 10.5% during the second quarter. Invesco Ltd. now owns 16,011,946 shares of the bank’s stock valued at $268,681,000 after buying an additional 1,515,333 shares during the period. Nuveen Asset Management LLC bought a new stake in People’s United Financial during the second quarter valued at approximately $17,994,000. Morgan Stanley grew its position in People’s United Financial by 36.6% during the second quarter. Morgan Stanley now owns 2,350,911 shares of the bank’s stock valued at $39,448,000 after buying an additional 629,471 shares during the period. First Trust Advisors LP grew its position in People’s United Financial by 19.0% during the third quarter. First Trust Advisors LP now owns 3,599,066 shares of the bank’s stock valued at $56,271,000 after buying an additional 575,026 shares during the period. Finally, Vanguard Group Inc. grew its position in People’s United Financial by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,851,442 shares of the bank’s stock valued at $752,607,000 after buying an additional 466,473 shares during the period. Institutional investors and hedge funds own 75.85% of the company’s stock.

In related news, VP David K. Norton sold 238,350 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.65, for a total value of $3,968,527.50. Following the sale, the vice president now owns 290,491 shares in the company, valued at $4,836,675.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John P. Barnes sold 32,461 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $17.10, for a total transaction of $555,083.10. Following the completion of the sale, the chief executive officer now owns 131,382 shares in the company, valued at approximately $2,246,632.20. The disclosure for this sale can be found here. Insiders sold 414,912 shares of company stock worth $10,339,781 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

Several analysts recently issued reports on PBCT shares. Stephens started coverage on shares of People’s United Financial in a research report on Tuesday, October 29th. They set an “equal weight” rating and a $16.00 target price for the company. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating and set a $17.00 price target on the stock in a report on Wednesday, January 8th. ValuEngine raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Raymond James started coverage on shares of People’s United Financial in a report on Tuesday, November 26th. They issued a “market perform” rating on the stock. Finally, BidaskClub downgraded shares of People’s United Financial from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $16.83.

Shares of PBCT opened at $16.41 on Tuesday. The company’s fifty day moving average is $16.62 and its 200 day moving average is $16.06. People’s United Financial, Inc. has a fifty-two week low of $13.81 and a fifty-two week high of $18.03. The stock has a market capitalization of $6.52 billion, a PE ratio of 12.53, a P/E/G ratio of 5.98 and a beta of 1.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.98 and a current ratio of 0.98.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. People’s United Financial had a net margin of 23.32% and a return on equity of 8.17%. The company had revenue of $462.00 million for the quarter, compared to analysts’ expectations of $452.39 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. People’s United Financial’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts forecast that People’s United Financial, Inc. will post 1.35 earnings per share for the current year.

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

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