Howard Wealth Management LLC Purchases New Position in People’s United Financial, Inc. (NASDAQ:PBCT)

Howard Wealth Management LLC purchased a new position in People’s United Financial, Inc. (NASDAQ:PBCT) in the fourth quarter, Holdings Channel reports. The fund purchased 33,617 shares of the bank’s stock, valued at approximately $568,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in People’s United Financial by 9.8% during the fourth quarter. Principal Financial Group Inc. now owns 645,440 shares of the bank’s stock worth $10,908,000 after acquiring an additional 57,402 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of People’s United Financial by 320.0% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 298,352 shares of the bank’s stock worth $4,959,000 after purchasing an additional 227,314 shares in the last quarter. Capital Advisors Inc. OK increased its stake in shares of People’s United Financial by 25.5% during the fourth quarter. Capital Advisors Inc. OK now owns 840,019 shares of the bank’s stock worth $14,196,000 after purchasing an additional 170,920 shares in the last quarter. Bessemer Group Inc. lifted its stake in People’s United Financial by 2,383.8% in the 4th quarter. Bessemer Group Inc. now owns 1,003,863 shares of the bank’s stock valued at $16,965,000 after buying an additional 963,447 shares in the last quarter. Finally, Hall Capital Management Co. Inc. lifted its stake in People’s United Financial by 10.6% in the 4th quarter. Hall Capital Management Co. Inc. now owns 36,600 shares of the bank’s stock valued at $619,000 after buying an additional 3,500 shares in the last quarter. 75.54% of the stock is owned by institutional investors.

In related news, VP Lee C. Powlus sold 8,821 shares of People’s United Financial stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $16.35, for a total transaction of $144,223.35. Following the transaction, the vice president now owns 125,220 shares in the company, valued at $2,047,347. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Jeffrey J. Tengel sold 90,689 shares of People’s United Financial stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $16.30, for a total value of $1,478,230.70. Following the transaction, the president now owns 154,592 shares in the company, valued at approximately $2,519,849.60. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Several equities research analysts have commented on PBCT shares. Stephens cut their price objective on People’s United Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Raymond James began coverage on People’s United Financial in a report on Tuesday, November 26th. They set a “market perform” rating for the company. DA Davidson downgraded People’s United Financial from a “buy” rating to a “neutral” rating and set a $17.50 target price on the stock. in a research report on Friday, January 17th. ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, BidaskClub lowered People’s United Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $16.60.

Shares of People’s United Financial stock traded up $0.02 during trading hours on Monday, reaching $15.94. 64,096 shares of the company’s stock were exchanged, compared to its average volume of 3,676,517. The business has a fifty day moving average of $16.29 and a two-hundred day moving average of $15.97. The company has a market capitalization of $6.34 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 5.90 and a beta of 1.26. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.53. People’s United Financial, Inc. has a 1 year low of $13.81 and a 1 year high of $18.03.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, January 16th. The bank reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The firm had revenue of $506.90 million for the quarter, compared to the consensus estimate of $487.75 million. People’s United Financial had a net margin of 22.51% and a return on equity of 8.16%. During the same period last year, the firm posted $0.35 earnings per share. As a group, research analysts predict that People’s United Financial, Inc. will post 1.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 15th. Investors of record on Saturday, February 1st will be paid a dividend of $0.177 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.71 annualized dividend and a yield of 4.44%. People’s United Financial’s dividend payout ratio is presently 51.08%.

People’s United Financial Company Profile

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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