People’s United Financial, Inc. Announces Quarterly Dividend of $0.18 (NASDAQ:PBCT)

People’s United Financial, Inc. (NASDAQ:PBCT) announced a quarterly dividend on Thursday, October 21st, RTT News reports. Stockholders of record on Monday, November 1st will be paid a dividend of 0.1825 per share by the bank on Monday, November 15th. This represents a $0.73 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, October 29th.

People’s United Financial has raised its dividend payment by 4.4% over the last three years and has raised its dividend every year for the last 28 years. People’s United Financial has a payout ratio of 51.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect People’s United Financial to earn $1.28 per share next year, which means the company should continue to be able to cover its $0.73 annual dividend with an expected future payout ratio of 57.0%.

Shares of People’s United Financial stock opened at $17.48 on Thursday. The business has a 50-day moving average of $16.69 and a 200-day moving average of $17.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $7.48 billion, a PE ratio of 11.28 and a beta of 1.22. People’s United Financial has a 1-year low of $10.38 and a 1-year high of $19.62.

People’s United Financial (NASDAQ:PBCT) last announced its earnings results on Thursday, October 21st. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). People’s United Financial had a net margin of 30.99% and a return on equity of 8.53%. During the same period last year, the company earned $0.34 EPS. On average, equities analysts expect that People’s United Financial will post 1.4 earnings per share for the current fiscal year.

An institutional investor recently raised its position in People’s United Financial stock. Morgan Stanley boosted its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,352,459 shares of the bank’s stock after acquiring an additional 430,958 shares during the period. Morgan Stanley owned about 0.78% of People’s United Financial worth $57,461,000 at the end of the most recent quarter. 70.79% of the stock is currently owned by institutional investors.

PBCT has been the topic of several research analyst reports. TheStreet cut shares of People’s United Financial from a “b” rating to a “c+” rating in a research report on Thursday, October 21st. Zacks Investment Research cut shares of People’s United Financial from a “buy” rating to a “hold” rating and set a $16.50 price target on the stock. in a research report on Tuesday, September 21st. Morgan Stanley reduced their price target on shares of People’s United Financial from $21.00 to $20.50 and set an “equal weight” rating on the stock in a research report on Monday, August 2nd. Finally, Wells Fargo & Company increased their price target on shares of People’s United Financial from $17.15 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 7th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.57.

People’s United Financial Company Profile

People’s United Financial, Inc is a bank and financial holding company, which engages in the commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. It operates through the Commercial Banking and Retail Banking segments. The Commercial Banking segment offers commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending, and the equipment financing operations.

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Dividend History for People`s United Financial (NASDAQ:PBCT)

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