In a report released today, Jared Shaw from Wells Fargo maintained a Hold rating on People’s United Financial (PBCT). The company’s shares closed last Friday at $11.58, close to its 52-week low of $10.40.
According to TipRanks.com, Shaw is a 2-star analyst with an average return of -0.4% and a 50.8% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Pinnacle Financial Partners, and Associated Banc-Corp.
People’s United Financial has an analyst consensus of Hold, with a price target consensus of $16.67, implying a 43.7% upside from current levels. In a report issued on March 17, Morgan Stanley also maintained a Hold rating on the stock with a $15.50 price target.
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Based on People’s United Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $507 million and net profit of $137 million. In comparison, last year the company earned revenue of $421 million and had a net profit of $133 million.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PBCT in relation to earlier this year.
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People’s United Financial, Inc. is a bank and financial holding company. It engages in the provision of commercial banking, retail and business banking, and wealth management services to individual, corporate and municipal customers. It operates through the following Commercial Banking, Retail Banking, Treasury and Others segments. The Commercial Banking segment consists commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities. The Retail Banking segment comprises consumer lending, and consumer deposit gathering activities, consumer lending, and merchant services. The Treasury segment covers the securities portfolio, short-term investments, brokered deposits, wholesale borrowings, and the funding center. The Other segment includes the residual financial impact from the allocation of revenues and expenses. The company was founded on November 2, 2006 and is headquartered in Bridgeport, CT.