Migdal Insurance & Financial Holdings Ltd. Has $231,000 Stake in People’s United Financial, Inc. (PBCT)

Migdal Insurance & Financial Holdings Ltd. lifted its position in People’s United Financial, Inc. (NASDAQ:PBCT) by 898.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,052 shares of the bank’s stock after purchasing an additional 12,644 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in People’s United Financial were worth $231,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in People’s United Financial by 9.6% in the fourth quarter. BlackRock Inc. now owns 35,412,815 shares of the bank’s stock valued at $511,006,000 after purchasing an additional 3,095,130 shares during the period. Victory Capital Management Inc. lifted its position in People’s United Financial by 224.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,222,670 shares of the bank’s stock worth $46,503,000 after buying an additional 2,228,618 shares in the last quarter. Norges Bank purchased a new position in People’s United Financial during the fourth quarter worth approximately $31,996,000. AMF Pensionsforsakring AB purchased a new position in People’s United Financial during the fourth quarter worth approximately $30,116,000. Finally, Deutsche Bank AG lifted its position in People’s United Financial by 55.2% during the fourth quarter. Deutsche Bank AG now owns 2,739,987 shares of the bank’s stock worth $39,533,000 after buying an additional 974,922 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

A number of brokerages recently commented on PBCT. ValuEngine downgraded People’s United Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. BidaskClub downgraded People’s United Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Zacks Investment Research upgraded People’s United Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Finally, FIG Partners downgraded People’s United Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.70.

In related news, EVP David P. Berey sold 129,431 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $17.90, for a total transaction of $2,316,814.90. Following the completion of the transaction, the executive vice president now directly owns 46,672 shares of the company’s stock, valued at approximately $835,428.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Galan G. Daukas sold 13,534 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $17.11, for a total value of $231,566.74. The disclosure for this sale can be found here. Insiders sold a total of 162,885 shares of company stock worth $2,898,495 in the last quarter. Company insiders own 2.40% of the company’s stock.

NASDAQ:PBCT traded up $0.06 on Wednesday, reaching $15.84. The company’s stock had a trading volume of 3,984,024 shares, compared to its average volume of 3,581,245. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.39 billion, a P/E ratio of 12.09, a P/E/G ratio of 5.86 and a beta of 1.17. People’s United Financial, Inc. has a 12-month low of $13.66 and a 12-month high of $19.37.

People’s United Financial (NASDAQ:PBCT) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.33 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $427.40 million for the quarter, compared to the consensus estimate of $432.11 million. People’s United Financial had a return on equity of 8.16% and a net margin of 23.64%. During the same quarter in the previous year, the business earned $1.30 EPS. Sell-side analysts anticipate that People’s United Financial, Inc. will post 1.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.1775 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Tuesday, April 30th. This is an increase from People’s United Financial’s previous quarterly dividend of $0.18. People’s United Financial’s payout ratio is currently 54.20%.

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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.

Further Reading: Moving Average Convergence Divergence (MACD)

Institutional Ownership by Quarter for People`s United Financial (NASDAQ:PBCT)

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