BlackRock Inc. Buys 1,159,031 Shares of People’s United Financial, Inc. (NASDAQ:PBCT)

BlackRock Inc. raised its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 3.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 36,571,846 shares of the bank’s stock after acquiring an additional 1,159,031 shares during the period. BlackRock Inc. owned approximately 9.66% of People’s United Financial worth $601,242,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in shares of People’s United Financial in the fourth quarter valued at approximately $28,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of People’s United Financial by 1,456.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 586,724 shares of the bank’s stock valued at $41,000 after purchasing an additional 549,017 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of People’s United Financial by 64.0% in the fourth quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,106 shares in the last quarter. JOYN Advisors Inc. lifted its holdings in shares of People’s United Financial by 1,858.3% in the fourth quarter. JOYN Advisors Inc. now owns 3,055 shares of the bank’s stock valued at $44,000 after purchasing an additional 2,899 shares in the last quarter. Finally, Huntington National Bank bought a new position in shares of People’s United Financial in the first quarter valued at approximately $47,000. Institutional investors own 75.82% of the company’s stock.

A number of brokerages recently commented on PBCT. BidaskClub lowered People’s United Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. ValuEngine lowered People’s United Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. FIG Partners lowered People’s United Financial from an “outperform” rating to a “market perform” rating in a report on Monday, April 22nd. Finally, Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. People’s United Financial presently has a consensus rating of “Hold” and a consensus price target of $19.70.

In other People’s United Financial news, CFO R David Rosato sold 39,250 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $16.20, for a total value of $635,850.00. Following the sale, the chief financial officer now directly owns 137,952 shares in the company, valued at $2,234,822.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark F. Herron sold 4,466 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.36, for a total value of $77,529.76. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

People’s United Financial stock traded up $0.18 during mid-day trading on Friday, reaching $16.78. 2,313,285 shares of the company’s stock were exchanged, compared to its average volume of 3,446,816. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 5.99 and a beta of 1.21. The business has a fifty day simple moving average of $16.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.94 and a quick ratio of 0.94. People’s United Financial, Inc. has a one year low of $13.66 and a one year high of $19.00.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, April 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $427.40 million for the quarter, compared to analyst estimates of $432.11 million. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, equities research analysts anticipate that People’s United Financial, Inc. will post 1.37 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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