Economy

Barclays Boosts People's United Financial (PBCT) Price Target to $20.00

Barclays Boosts People's United Financial (PBCT) Price Target to $20.00

Sandler O'Neill downgraded the shares of PBCT in report on Friday, December 2 to "Sell" rating. The firm had revenue of $373.90 million during the quarter, compared to analyst estimates of $374.59 million.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LLC purchased a new position in shares of People's United Financial in the 2nd quarter valued at about $16,141,000. People's United Financial, Inc. Narrowing in further, the stock has been recently noted at -1.17% away from the 30 day high and +2.68% separated from the 30 day low. People's United Financial's quarterly revenue was up 11.2% on a year-over-year basis. Dimensional Fund Advisors LP boosted its stake in shares of People's United Financial by 1.2% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 2,882,016 shares of the bank's stock worth $50,896,000 after buying an additional 207,716 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of People's United Financial by 6.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,548,127 shares of the bank's stock worth $27,340,000 after purchasing an additional 146,025 shares during the last quarter. Hedge funds and other institutional investors own 75.52% of the company's stock. Finally, Federated Investors Inc. The same analysts are predicting that the company shares will trade to $19.19 within the next 12-18 months.

Daily Journal Corp holds 56.91% of its portfolio in Wells Fargo & Company for 1.59 million shares.

People's United Financial, Inc. has a 52 week low of $15.97 and a 52 week high of $19.85. 77,543 were accumulated by Credit Agricole S A. Wealthcare Capital Mgmt Ltd Liability Co accumulated 1,194 shares or 0% of the stock.

People's United Financial (NASDAQ:PBCT) last posted its quarterly earnings results on Thursday, October 19th. After $0.26 actual EPS reported by People's United Financial, Inc. for the previous quarter, Wall Street now forecasts 3.85% EPS growth.

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STATE STREET CORP raised its stake in People's United Financial, Inc. During the same period in the prior year, the firm posted $0.24 EPS. A month ago, analyst EPS consensus estimated earnings of US$0.27 per share. CAPITAL WORLD INVESTORS also announced decreased position in Sysco Corporation (SYY) during the quarter. Guggenheim Cap Lc stated it has 3.36 million shares or 0.14% of all its holdings.

At the same time as, it has debt to equity ratio of 0.21 and similar long term debt to equity ratio was 0.21. The company's hotel consists of 543 guest rooms and luxury suites with approximately 22,000 square feet of meeting room space, grand ballroom, five level underground garage parking, pedestrian bridge, and Chinese culture center. Piper Jaffray Companies reiterated a "sell" rating and issued a $16.00 price target on shares of People's United Financial in a research note on Wednesday, October 4th. Keefe Bruyette & Woods maintained the stock with "Hold" rating in Monday, July 10 report. The stock increased 1.19% or $0.23 during the last trading session, reaching $19.48. As always, the values may need to be adjusted based on the specific stock and market. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Bessemer Incorporated holds 0% of its portfolio in People's United Financial, Inc.

In related news, VP David K. Norton sold 108,194 shares of People's United Financial stock in a transaction dated Wednesday, November 29th. About 6.56M shares traded or 18.31% up from the average. Butensky & Cohen Financial Security Inc owns 115,615 shares or 1.86% of their USA portfolio. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. (NASDAQ:PBCT) shares were sold by RICHARDS MARK W. The shares were sold at an average price of $19.32, for a total value of $3,355,594.20. Following the transaction, the director now directly owns 333,364 shares in the company, valued at approximately $6,340,583.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,709,082 shares of company stock worth $32,033,723.

Monitoring the numbers for People's United Finl (PBCT), we have recorded that the Percentage Price Oscillator is now higher than the signal line. The Bank is engaged in providing commercial banking, retail banking and wealth management services to individual, corporate and municipal customers.


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