November 28, 2016 - By Ellis Scott · 0 Comments
Peoples United Financial Inc (NASDAQ:PBCT) institutional sentiment decreased to 1.06 in 2016 Q2. Its down -0.36, from 1.42 in 2016Q1. The ratio fall, as 190 funds increased or started new equity positions, while 134 sold and decreased their positions in Peoples United Financial Inc. The funds in our partner’s database now own: 235.50 million shares, down from 238.33 million shares in 2016Q1. Also, the number of funds holding Peoples United Financial Inc in their top 10 equity positions decreased from 3 to 1 for a decrease of 2. Sold All: 28 Reduced: 106 Increased: 140 New Position: 50.
People’s United Financial, Inc. is the bank holding firm for People’s United Bank, National Association (the Bank). The company has a market cap of $5.74 billion. The principal business of the Company is to provide, through the Bank and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. It has a 20.15 P/E ratio. The Company’s divisions include Commercial Banking, Retail Banking, Wealth Management, Treasury and Other.
About 2.09M shares traded hands. People’s United Financial, Inc. (NASDAQ:PBCT) has risen 15.77% since April 25, 2016 and is uptrending. It has outperformed by 9.76% the S&P500.
Analysts await People’s United Financial, Inc. (NASDAQ:PBCT) to report earnings on January, 19. They expect $0.23 earnings per share, up 4.55% or $0.01 from last year’s $0.22 per share. PBCT’s profit will be $71.83M for 19.98 P/E if the $0.23 EPS becomes a reality. After $0.25 actual earnings per share reported by People’s United Financial, Inc. for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.
According to Zacks Investment Research, “People’s Bank is a diversified financial services company providing consumer and commercial banking services, in addition to insurance, trust and financial advisory services. Through its subsidiaries, People’s provides brokerage and financial advisory services, asset management, equipment financing and insurance services.”
Hamlin Capital Management Llc holds 2.75% of its portfolio in People’s United Financial, Inc. for 3.88 million shares. Butensky & Cohen Financial Security Inc owns 130,030 shares or 1.86% of their US portfolio. Moreover, Iberiabank Corp has 1.71% invested in the company for 260,282 shares. The Vermont-based Hanson & Doremus Investment Management has invested 1.63% in the stock. Hourglass Capital Llc, a Texas-based fund reported 450,105 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 4 buys, and 19 insider sales for $34.32 million net activity.
Ratings analysis reveals 20% of People’s United Financial Inc’s analysts are positive. Out of 5 Wall Street analysts rating People’s United Financial Inc, 1 give it “Buy”, 3 “Sell” rating, while 1 recommend “Hold”. The lowest target is $14 while the high is $17. The stock’s average target of $15.63 is -14.92% below today’s ($18.37) share price. PBCT was included in 9 notes of analysts from July 20, 2015. The firm has “Underweight” rating by PiperJaffray given on Wednesday, November 16. On Tuesday, April 5 the stock rating was downgraded by Morgan Stanley to “Underweight”. On Wednesday, November 16 the stock rating was downgraded by Piper Jaffray to “Underweight”. On Wednesday, June 29 the stock rating was upgraded by Piper Jaffray to “Neutral”. The stock of People’s United Financial, Inc. (NASDAQ:PBCT) has “Neutral” rating given on Monday, January 25 by Piper Jaffray.
People’s United Financial, Inc. (People’s United), incorporated on February 11, 2006, is the bank holding firm for People’s United Bank, National Association (the Bank). The Bank is a national banking association. The principal business of the Company is to provide commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company’s divisions include Commercial Banking, Retail Banking, Wealth Management, Treasury and Other. The Treasury area manages the Company’s securities portfolio, short-term investments, brokered deposits and wholesale borrowings. The Company’s traditional banking activities are conducted primarily within New England and southeastern New York, and include extending secured and unsecured commercial and consumer loans, originating mortgage loans secured by residential and commercial properties, and accepting consumer, commercial and municipal deposits. In addition to traditional banking activities, the Bank provides specialized financial services, such as personal, institutional and employee benefit trust; cash management, and municipal banking and finance. The Bank offers brokerage, financial advisory services, investment management services and life insurance through People’s Securities, Inc. (PSI); equipment financing through People’s Capital and Leasing Corp. (PCLC) and People’s United Equipment Finance Corp. (PUEFC), and other insurance services through People’s United Insurance Agency, Inc. (PUIA).
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By Ellis Scott