Research Analysts Set Expectations for People’s United Financial, Inc.’s Q1 2018 Earnings (PBCT)

People’s United Financial, Inc. (NASDAQ:PBCT) – Equities researchers at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of People’s United Financial in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Haire anticipates that the bank will post earnings of $0.26 per share for the quarter. Jefferies Group has a “Hold” rating and a $19.00 price objective on the stock. Jefferies Group also issued estimates for People’s United Financial’s Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.28 EPS and Q4 2018 earnings at $0.28 EPS.

PBCT has been the topic of a number of other reports. BidaskClub upgraded shares of People’s United Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Zacks Investment Research downgraded shares of People’s United Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Piper Jaffray Companies set a $16.00 target price on shares of People’s United Financial and gave the stock a “sell” rating in a research note on Thursday, August 17th. Keefe, Bruyette & Woods restated a “hold” rating on shares of People’s United Financial in a research note on Monday, July 10th. Finally, Morgan Stanley restated 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. Three analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. People’s United Financial has an average rating of “Hold” and an average price target of $18.75.

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People’s United Financial (PBCT) traded down 0.246% during mid-day trading on Wednesday, hitting $18.235. 875,371 shares of the stock were exchanged. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 20.397 and a beta of 0.84. The company’s 50-day moving average price is $17.31 and its 200 day moving average price is $17.40. People’s United Financial has a 52 week low of $15.38 and a 52 week high of $20.13.

People’s United Financial (NASDAQ:PBCT) last posted its earnings results on Thursday, July 20th. The bank reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). The firm had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $357.16 million. People’s United Financial had a return on equity of 6.14% and a net margin of 18.88%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share.

In other news, Director Janet M. Hansen sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $17.14, for a total value of $205,680.00. Following the completion of the sale, the director now owns 145,707 shares of the company’s stock, valued at approximately $2,497,417.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Hoyt sold 6,759 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $17.98, for a total transaction of $121,526.82. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PBCT. Comerica Bank lifted its position in shares of People’s United Financial by 0.7% in the 1st quarter. Comerica Bank now owns 76,133 shares of the bank’s stock worth $1,358,000 after purchasing an additional 534 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of People’s United Financial by 7.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,302,527 shares of the bank’s stock worth $23,706,000 after purchasing an additional 89,615 shares during the period. Mason Street Advisors LLC lifted its position in shares of People’s United Financial by 11.1% in the 1st quarter. Mason Street Advisors LLC now owns 47,305 shares of the bank’s stock worth $861,000 after purchasing an additional 4,709 shares during the period. JPMorgan Chase & Co. lifted its position in shares of People’s United Financial by 217.5% in the 1st quarter. JPMorgan Chase & Co. now owns 394,453 shares of the bank’s stock worth $7,178,000 after purchasing an additional 270,217 shares during the period. Finally, KBC Group NV lifted its position in shares of People’s United Financial by 26.4% in the 1st quarter. KBC Group NV now owns 42,033 shares of the bank’s stock worth $765,000 after purchasing an additional 8,780 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

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.

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

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