The stock of People’s United Financial, Inc. (NASDAQ:PBCT) hit a new 52-week high and has $19.47 target or 3.00% above today’s $18.90 share price. The 8 months bullish chart indicates low risk for the $5.97B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $19.47 price target is reached, the company will be worth $179.10M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.70 million shares traded hands. People’s United Financial, Inc. (NASDAQ:PBCT) has risen 20.54% since April 28, 2016 and is uptrending. It has outperformed by 14.62% the S&P500.
Analysts await People’s United Financial, Inc. (NASDAQ:PBCT) to report earnings on January, 19. They expect $0.23 earnings per share, up 4.55% or $0.01 from last year’s $0.22 per share. PBCT’s profit will be $72.65 million for 20.54 P/E if the $0.23 EPS becomes a reality. After $0.25 actual earnings per share reported by People’s United Financial, Inc. for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.
People’s United Financial, Inc. (NASDAQ:PBCT) Ratings Coverage
Out of 5 analysts covering People’s United Financial Inc (NASDAQ:PBCT), 1 rate it a “Buy”, 3 “Sell”, while 1 “Hold”. This means 20% are positive. People’s United Financial Inc has been the topic of 9 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The rating was upgraded by Piper Jaffray on Monday, January 25 to “Neutral”. Piper Jaffray downgraded the shares of PBCT in a report on Wednesday, November 16 to “Underweight” rating. On Wednesday, November 16 the stock rating was downgraded by PiperJaffray to “Underweight”. The rating was downgraded by Morgan Stanley to “Underweight” on Tuesday, April 5. The firm has “Neutral” rating by Piper Jaffray given on Wednesday, June 29.
According to Zacks Investment Research, “People’s Bank is a diversified financial services company providing consumer and commercial banking services, in addition to insurance, trust and financial advisory services. Through its subsidiaries, People’s provides brokerage and financial advisory services, asset management, equipment financing and insurance services.”
Insitutional Activity: The institutional sentiment decreased to 1.06 in 2016 Q2. Its down 0.36, from 1.42 in 2016Q1. The ratio fall, as 28 funds sold all People’s United Financial, Inc. shares owned while 106 reduced positions. 50 funds bought stakes while 140 increased positions. They now own 235.50 million shares or 1.19% less from 238.33 million shares in 2016Q1.
Old Mutual Customised Solutions (Proprietary), a South Africa-based fund reported 4,500 shares. Blackrock Japan Comm Limited has 379,717 shares for 0.02% of their US portfolio. The Illinois-based Brookstone Mgmt has invested 0.45% in People’s United Financial, Inc. (NASDAQ:PBCT). Grp Inc One Trading L P has 9,500 shares for 0% of their US portfolio. Jpmorgan Chase And Com, a New York-based fund reported 152,727 shares. Deere And Commerce last reported 14,399 shares in the company. Paloma Prtnrs Communication holds 152,423 shares or 0.02% of its portfolio. The Switzerland-based Lombard Odier Asset Mngmt (Switzerland) has invested 0.16% in People’s United Financial, Inc. (NASDAQ:PBCT). Midwest Inv Management owns 14,383 shares or 0.17% of their US portfolio. Moreover, Hightower Advsr Limited Liability Company has 0.01% invested in People’s United Financial, Inc. (NASDAQ:PBCT) for 68,949 shares. Visionary Asset has invested 0.86% of its portfolio in People’s United Financial, Inc. (NASDAQ:PBCT). Yhb Investment Advisors holds 0.04% of its portfolio in People’s United Financial, Inc. (NASDAQ:PBCT) for 13,732 shares. Chase Invest Counsel holds 19,350 shares or 0.13% of its portfolio. Moreover, Breton Hill Ltd has 0.25% invested in People’s United Financial, Inc. (NASDAQ:PBCT) for 53,974 shares. Hanson And Doremus Management holds 1.63% or 244,723 shares in its portfolio.
Insider Transactions: Since August 5, 2016, the stock had 4 insider purchases, and 19 sales for $34.32 million net activity. Baron Collin P had sold 194,415 shares worth $3.57M. BARNES JOHN P had sold 136,809 shares worth $2.39 million on Wednesday, November 9. Shares for $3.54M were sold by Hansen Janet M on Thursday, November 17. RICHARDS MARK W also bought $200,000 worth of People’s United Financial, Inc. (NASDAQ:PBCT) on Monday, October 24. Bottomley Kevin T. bought $50,000 worth of stock. Shares for $738,504 were sold by Trautmann Robert E on Thursday, August 18. Shares for $259,095 were sold by HOYT JEFFREY on Thursday, November 17.
Another recent and important People’s United Financial, Inc. (NASDAQ:PBCT) news was published by Nasdaq.com which published an article titled: “YieldBoost People’s United Financial To 13.3% Using Options” on December 01, 2016.
PBCT Company Profile
People’s United Financial, Inc. (People’s United), incorporated on February 11, 2006, is the bank holding firm for People’s United Bank, National Association (the Bank). The Bank is a national banking association. The principal business of the Company is to provide commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company’s divisions include Commercial Banking, Retail Banking, Wealth Management, Treasury and Other. The Treasury area manages the Company’s securities portfolio, short-term investments, brokered deposits and wholesale borrowings. The Company’s traditional banking activities are conducted primarily within New England and southeastern New York, and include extending secured and unsecured commercial and consumer loans, originating mortgage loans secured by residential and commercial properties, and accepting consumer, commercial and municipal deposits. In addition to traditional banking activities, the Bank provides specialized financial services, such as personal, institutional and employee benefit trust; cash management, and municipal banking and finance. The Bank offers brokerage, financial advisory services, investment management services and life insurance through People’s Securities, Inc. (PSI); equipment financing through People’s Capital and Leasing Corp. (PCLC) and People’s United Equipment Finance Corp. (PUEFC), and other insurance services through People’s United Insurance Agency, Inc. (PUIA).
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