SSgA Funds Management, Inc. has recently announced that it has increased stake in People’s United Financial Inc. (NASDAQ:PBCT) by 6.83%. After grabbing 50.65 million shares, the institutional investor is now in possession of 3.24 million shares of the Financial Company. The new investment brought the stake of investor firm to 11.93% having worth around $546.53 million. Moreover, Dimensional Fund Advisors LP increased its share by 25349.0 to have a control over 11.04 million shares. And Invesco Capital Management LLC raised its holdings to 0.47 million shares by acquiring 9.49 million shares or 2.23% of the stake.
People’s United Financial Inc. (PBCT) concluded trading on 08/26/20 at a closing price of $10.46, with 2.39 million shares of worth about $24.98 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -3.15% during that period and on Wednesday the price saw a loss of about -3.24%. Currently the company’s common shares owned by public are about 417.90M shares, out of which, 415.66M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the PBCT stock and their offered price forecasts bring an average price target of $12.23. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.50 and could fall to a lowest price of $10.50. Analysts also issued an outlook of 2.90 for the People’s United Financial Inc. stock for next 12 months. The stock’s current price level is 14.47% above of average price target set by the analysts, while a rise to estimated low would result in gain of 0.38 for the stock. However, touching the estimated high of $13.50 would mean a gain of 22.52% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 76 times over the past 12 months. They bought 823,496 shares in 49 of the transactions. In 27 selling transactions, insiders dumped 501,561 shares.
SPDR S&P Dividend ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in People’s United Financial Inc. SPDR S&P Dividend ETF is currently holding 25.22 million shares of worth totaling $272.16 million. The company recently came selling 7730.0 shares which brought its stake up to 5.94% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 6442.0 shares, after which its hold over company’s outstanding shares shrunk to 2.84%, leaving 12.04 million shares with the mutual fund that have a worth of about $129.91 million. Vanguard Small Cap Index Fund, after selling 10.55 million shares, have now control over 2.49% of the stake in the company. It holds 76223.0 shares of worth $113.87 million.
People’s United Financial Inc. (NASDAQ: PBCT) started trading at $10.80, below -$0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $10.46, or with a loss of -3.24%. Stock saw a price change of -3.15% in past 5 days and over the past one month there was a price change of -6.52%. Year-to-date (YTD), PBCT shares are showing a performance of -38.11% which decreased to -24.96% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.37 but also hit the highest price of $17.22 during that period. While comparing its average daily trading volume of 4.38 million shares, we see that about 2.39 million changed hands on the day. The stock is currently trading -5.05% below its 20-day simple moving average (SMA20), while that difference is down -7.27% for SMA50 and it goes to -22.12% lower than SMA200.
SSgA Funds Management, Inc. acquired 50.65 million shares of People’s United Financial Inc. having value of about $546.53 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 3.24 million shares in the company valued at close to $33867063.74, or have control over 6.83% stake in the company. People’s United Financial Inc. (NASDAQ: PBCT) currently have 417.90M outstanding shares and institutions hold larger chunk of about 77.80% of that. Holding of mutual funds in the company is about 29.51% while other institutional holders and individual stake holders have control over 47.24% and 1.90% of the stake respectively.
The stock has a current market capitalization of $4.47B and its 3Y-monthly beta is at 1.21. PE ratio of stock for trailing 12 months is 9.10, while it has posted earnings per share of $1.15 in the same period. Its PEG reads 0.66 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PBCT, volatility over the week remained 3.06% while standing at 3.43% over the month.
Analysts are in expectations that People’s United Financial Inc. (PBCT) stock would likely to be making an EPS of $0.28 in the current quarter, while forecast for next quarter ESPS is $0.27 and it is $0.96 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.24 which is $0.37 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 0.80% while it is estimated to decrease by -12.64% in next year. EPS is likely to grow at an annualized rate of 13.73% for next 5-years, compared to annual growth of 8.70% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the People’s United Financial Inc. (PBCT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.90. Out of those 14 Wall Street analysts, 1 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by RBC Capital Mkts on June 24, 2020 offering a Sector perform rating for the stock and assigned a target price of $14 to it. Coverage by Compass Point stated People’s United Financial Inc. (PBCT) stock as a Neutral in their note to investors on April 14, 2020, suggesting a price target of for the stock. On January 17, 2020, DA Davidson Downgrade their recommendations, while on November 26, 2019, Raymond James Initiated their ratings for the stock with a price target of. Stock get an Equal-weight rating from Stephens on October 29, 2019.