CWA Asset Management Group LLC Has $2.82 Million Stake in People’s United Financial, Inc. (PBCT)

CWA Asset Management Group LLC increased its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 21.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 159,471 shares of the bank’s stock after acquiring an additional 28,154 shares during the period. CWA Asset Management Group LLC’s holdings in People’s United Financial were worth $2,816,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Benedict Financial Advisors Inc. grew its position in shares of People’s United Financial by 0.3% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 15,537 shares of the bank’s stock valued at $272,000 after acquiring an additional 47 shares during the period. Federated Investors Inc. PA grew its position in shares of People’s United Financial by 0.8% during the 2nd quarter. Federated Investors Inc. PA now owns 9,678 shares of the bank’s stock valued at $171,000 after acquiring an additional 80 shares during the period. ING Groep NV grew its position in shares of People’s United Financial by 0.5% during the 2nd quarter. ING Groep NV now owns 17,637 shares of the bank’s stock valued at $311,000 after acquiring an additional 94 shares during the period. Contravisory Investment Management Inc. grew its position in shares of People’s United Financial by 0.8% during the 2nd quarter. Contravisory Investment Management Inc. now owns 13,274 shares of the bank’s stock valued at $234,000 after acquiring an additional 104 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of People’s United Financial by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,583 shares of the bank’s stock valued at $452,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 77.02% of the company’s stock.

In other People’s United Financial news, insider Jeffrey Hoyt sold 6,759 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $17.98, for a total transaction of $121,526.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Shares of People’s United Financial, Inc. (NASDAQ PBCT) traded up 2.05% on Tuesday, reaching $16.94. 896,386 shares of the company were exchanged. The stock has a 50 day moving average of $17.02 and a 200-day moving average of $17.58. People’s United Financial, Inc. has a 52-week low of $15.28 and a 52-week high of $20.13. The company has a market capitalization of $5.72 billion, a P/E ratio of 18.95 and a beta of 0.82.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a dividend of $0.1725 per share. The ex-dividend date was Friday, July 28th. This represents a $0.69 annualized dividend and a yield of 4.16%. People’s United Financial’s payout ratio is currently 77.53%.

A number of equities research analysts have recently commented on PBCT shares. BidaskClub cut People’s United Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Morgan Stanley upgraded People’s United Financial from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $16.50 to $17.50 in a research report on Monday, June 5th. They noted that the move was a valuation call. Zacks Investment Research cut People’s United Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Keefe, Bruyette & Woods restated a “hold” rating on shares of People’s United Financial in a research report on Monday, July 10th. Finally, Jefferies Group LLC restated a “hold” rating and set a $19.00 target price on shares of People’s United Financial in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.38.

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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.

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

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