People’s United Financial, Inc. (NASDAQ:PBCT) Expected to Post Quarterly Sales of $449.19 Million

Brokerages expect that People’s United Financial, Inc. (NASDAQ:PBCT) will announce $449.19 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for People’s United Financial’s earnings, with the highest sales estimate coming in at $452.70 million and the lowest estimate coming in at $440.50 million. People’s United Financial reported sales of $396.10 million during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, July 18th.

According to Zacks, analysts expect that People’s United Financial will report full year sales of $1.80 billion for the current financial year, with estimates ranging from $1.79 billion to $1.83 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.90 billion, with estimates ranging from $1.85 billion to $1.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow People’s United Financial.

People’s United Financial (NASDAQ:PBCT) last released its earnings results on Thursday, April 18th. The bank reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $427.40 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $1.30 earnings per share.

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

NASDAQ PBCT opened at $16.78 on Friday. The stock has a market capitalization of $6.67 billion, a P/E ratio of 12.81, a PEG ratio of 5.99 and a beta of 1.21. The firm has a 50 day moving average price of $16.22. People’s United Financial has a 1-year low of $13.66 and a 1-year high of $19.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.94 and a current ratio of 0.94.

In related news, CFO R David Rosato sold 39,250 shares of People’s United Financial stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $16.20, for a total transaction of $635,850.00. Following the transaction, the chief financial officer now owns 137,952 shares in the company, valued at $2,234,822.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark F. Herron sold 4,466 shares of People’s United Financial stock in a transaction that occurred on Tuesday, April 30th. The stock was 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. Company insiders own 2.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Knott David M acquired a new stake in People’s United Financial during the first quarter worth $25,000. CSat Investment Advisory L.P. increased its stake in People’s United Financial by 64.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock worth $41,000 after acquiring an additional 1,106 shares during the last quarter. Huntington National Bank acquired a new stake in People’s United Financial during the first quarter worth $47,000. Parallel Advisors LLC increased its stake in People’s United Financial by 125.9% during the first quarter. Parallel Advisors LLC now owns 2,955 shares of the bank’s stock worth $49,000 after acquiring an additional 1,647 shares during the last quarter. Finally, JOYN Advisors Inc. increased its stake in People’s United Financial by 1,858.3% during the fourth quarter. JOYN Advisors Inc. now owns 3,055 shares of the bank’s stock worth $44,000 after acquiring an additional 2,899 shares during the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.

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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Earnings History and Estimates for People`s United Financial (NASDAQ:PBCT)

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