Commonwealth Bank of Australia Trims Position in People’s United Financial, Inc. (PBCT)

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Commonwealth Bank of Australia decreased its holdings in People’s United Financial, Inc. (NASDAQ:PBCT) by 26.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,245 shares of the bank’s stock after selling 16,200 shares during the quarter. Commonwealth Bank of Australia’s holdings in People’s United Financial were worth $722,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Washington Trust Bank raised its position in People’s United Financial by 17.3% in the 1st quarter. Washington Trust Bank now owns 22,516 shares of the bank’s stock valued at $370,000 after purchasing an additional 3,325 shares during the last quarter. Geode Capital Management LLC raised its position in People’s United Financial by 9.7% in the 4th quarter. Geode Capital Management LLC now owns 5,871,742 shares of the bank’s stock valued at $84,598,000 after purchasing an additional 517,455 shares during the last quarter. JPMorgan Chase & Co. increased its stake in People’s United Financial by 63.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,405,128 shares of the bank’s stock valued at $24,055,000 after buying an additional 544,832 shares during the period. Comerica Bank increased its stake in People’s United Financial by 12.9% in the 4th quarter. Comerica Bank now owns 174,321 shares of the bank’s stock valued at $2,937,000 after buying an additional 19,953 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in People’s United Financial by 6.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 36,024 shares of the bank’s stock valued at $592,000 after buying an additional 2,282 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Shares of PBCT opened at $16.13 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 5.70 and a beta of 1.21. People’s United Financial, Inc. has a 1 year low of $13.66 and a 1 year high of $19.37.

People’s United Financial (NASDAQ:PBCT) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $427.40 million for the quarter, compared to analysts’ expectations of $432.11 million. People’s United Financial had a net margin of 23.64% and a return on equity of 8.16%. During the same period in the previous year, the company posted $1.30 EPS. As a group, equities research analysts expect that People’s United Financial, Inc. will post 1.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.1775 dividend. This is a boost from People’s United Financial’s previous quarterly dividend of $0.18. This represents a $0.71 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, April 30th. People’s United Financial’s payout ratio is currently 54.20%.

In other People’s United Financial news, insider Mark F. Herron sold 4,466 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.36, for a total value of $77,529.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.40% of the company’s stock.

Several brokerages have issued reports on PBCT. BidaskClub cut shares of People’s United Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. ValuEngine cut shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. FIG Partners cut shares of People’s United Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.70.

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People’s United Financial 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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