Teacher Retirement System of Texas decreased its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 430,158 shares of the bank’s stock after selling 16,620 shares during the period. Teacher Retirement System of Texas’ holdings in People’s United Financial were worth $7,597,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its position in shares of People’s United Financial by 17.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 41,263 shares of the bank’s stock worth $754,000 after buying an additional 6,165 shares during the period. First Trust Advisors LP boosted its stake in People’s United Financial by 9.9% in the second quarter. First Trust Advisors LP now owns 2,859,169 shares of the bank’s stock valued at $50,493,000 after buying an additional 257,579 shares during the last quarter. Arizona State Retirement System boosted its stake in People’s United Financial by 43.1% in the second quarter. Arizona State Retirement System now owns 112,208 shares of the bank’s stock valued at $1,982,000 after buying an additional 33,800 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in People’s United Financial by 34.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 66,455 shares of the bank’s stock valued at $1,174,000 after buying an additional 16,963 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in People’s United Financial by 10.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,548,127 shares of the bank’s stock valued at $27,340,000 after buying an additional 146,025 shares during the last quarter. 75.03% of the stock is owned by institutional investors and hedge funds.

Shares of People’s United Financial, Inc. (PBCT) opened at 17.17 on Tuesday. People’s United Financial, Inc. has a 1-year low of $15.27 and a 1-year high of $20.13. The firm has a 50-day moving average of $17.57 and a 200 day moving average of $17.88. The stock has a market capitalization of $5.80 billion, a PE ratio of 19.21 and a beta of 0.82.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.04. People’s United Financial had a net margin of 18.88% and a return on equity of 6.14%. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $357.16 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that People’s United Financial, Inc. will post $0.93 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.1725 per share. The ex-dividend date is Friday, July 28th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.02%. People’s United Financial’s dividend payout ratio is currently 77.53%.

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Several research firms have commented on PBCT. BidaskClub cut shares of People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $17.75 target price (up from $17.50) on shares of People’s United Financial in a research note on Friday, July 7th. Finally, Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Three analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.25.

In other news, VP Robert E. Trautmann sold 118,836 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $17.08, for a total transaction of $2,029,718.88. Following the sale, the vice president now owns 70,323 shares in the company, valued at $1,201,116.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry Franklin sold 4,520 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $16.72, for a total transaction of $75,574.40. Following the sale, the director now owns 97,249 shares in the company, valued at approximately $1,626,003.28. The disclosure for this sale can be found here. Insiders have sold 130,115 shares of company stock worth $2,226,820 in the last 90 days. 2.70% of the stock is owned by company insiders.

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.

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

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