Gateway Investment Advisers LLC Has $232,000 Holdings in People’s United Financial, Inc. (PBCT)
Gateway Investment Advisers LLC decreased its holdings in shares of People’s United Financial, Inc. (NASDAQ:PBCT) by 21.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,088 shares of the bank’s stock after selling 3,915 shares during the quarter. Gateway Investment Advisers LLC’s holdings in People’s United Financial were worth $232,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of People’s United Financial during the fourth quarter valued at approximately $28,000. First Hawaiian Bank grew its stake in shares of People’s United Financial by 462.5% during the fourth quarter. First Hawaiian Bank now owns 2,025 shares of the bank’s stock valued at $29,000 after buying an additional 1,665 shares during the last quarter. Ipswich Investment Management Co. Inc. bought a new position in shares of People’s United Financial during the fourth quarter valued at approximately $41,000. Oregon Public Employees Retirement Fund grew its stake in shares of People’s United Financial by 1,456.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 586,724 shares of the bank’s stock valued at $41,000 after buying an additional 549,017 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its stake in People’s United Financial by 64.0% in the fourth quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the bank’s stock worth $41,000 after purchasing an additional 1,106 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PBCT opened at $17.13 on Friday. People’s United Financial, Inc. has a 52-week low of $13.66 and a 52-week high of $19.37. The company has a market capitalization of $6.48 billion, a P/E ratio of 13.08, a PEG ratio of 6.09 and a beta of 1.16. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.1775 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.71 annualized dividend and a yield of 4.14%. This is a boost from People’s United Financial’s previous quarterly dividend of $0.18. People’s United Financial’s dividend payout ratio is 53.44%.
Several research analysts recently issued reports on the company. BidaskClub cut People’s United Financial from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Zacks Investment Research raised People’s United Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. Barclays reissued a “hold” rating and issued a $19.00 price objective on shares of People’s United Financial in a research note on Sunday, January 20th. ValuEngine raised People’s United Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of People’s United Financial in a research note on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.70.
In other People’s United Financial news, EVP David P. Berey sold 129,431 shares of the company’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 sale, the executive vice president now owns 46,672 shares in the company, valued at $835,428.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark W. Richards sold 6,800 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $16.43, for a total value of $111,724.00. The disclosure for this sale can be found here. In the last three months, insiders sold 165,219 shares of company stock worth $2,932,690. 2.40% of the stock is owned by insiders.
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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.
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