CWM Advisors LLC Raises Stock Holdings in People’s United Financial, Inc. (NASDAQ:PBCT)

CWM Advisors LLC boosted its position in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,122 shares of the bank’s stock after acquiring an additional 1,760 shares during the period. CWM Advisors LLC’s holdings in People’s United Financial were worth $858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBCT. Sound Income Strategies LLC raised its position in shares of People’s United Financial by 46.2% during the second quarter. Sound Income Strategies LLC now owns 72,290 shares of the bank’s stock valued at $1,213,000 after buying an additional 22,837 shares during the last quarter. JGP Wealth Management LLC boosted its stake in People’s United Financial by 1.6% during the second quarter. JGP Wealth Management LLC now owns 58,536 shares of the bank’s stock worth $982,000 after buying an additional 908 shares during the period. Unigestion Holding SA boosted its stake in People’s United Financial by 4.3% during the second quarter. Unigestion Holding SA now owns 1,900,462 shares of the bank’s stock worth $31,890,000 after buying an additional 78,220 shares during the period. Old Port Advisors boosted its stake in People’s United Financial by 1.6% during the second quarter. Old Port Advisors now owns 173,422 shares of the bank’s stock worth $2,924,000 after buying an additional 2,812 shares during the period. Finally, Butensky & Cohen Financial Security Inc. boosted its stake in People’s United Financial by 8.6% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 142,130 shares of the bank’s stock worth $2,385,000 after buying an additional 11,250 shares during the period. Institutional investors own 75.48% of the company’s stock.

In other news, CFO R David Rosato sold 39,250 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.20, for a total transaction of $635,850.00. Following the completion of the sale, the chief financial officer now directly owns 137,952 shares of the company’s stock, valued at $2,234,822.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Several research firms have commented on PBCT. BidaskClub lowered shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Thursday. FIG Partners lowered shares of People’s United Financial from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Finally, ValuEngine lowered shares of People’s United Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.67.

NASDAQ PBCT opened at $14.18 on Friday. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 5.56 and a beta of 1.21. People’s United Financial, Inc. has a 52 week low of $13.66 and a 52 week high of $19.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $16.17 and a two-hundred day moving average of $16.64.

People’s United Financial (NASDAQ:PBCT) last issued its earnings results on Thursday, July 18th. The bank reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. The firm had revenue of $454.40 million during the quarter, compared to analyst estimates of $448.83 million. People’s United Financial had a net margin of 23.51% and a return on equity of 8.21%. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that People’s United Financial, Inc. will post 1.34 EPS for the current year.

People’s United Financial announced that its board has authorized a share buyback program on Thursday, July 18th that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Wednesday, July 31st. People’s United Financial’s dividend payout ratio is currently 54.20%.

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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