Raymond James Sticks to Their Hold Rating for People’s United Financial (PBCT)


Raymond James analyst William Wallace maintained a Hold rating on People’s United Financial (PBCT) today. The company’s shares closed last Thursday at $14.15.

According to TipRanks.com, Wallace is a 5-star analyst with an average return of 18.4% and a 69.2% success rate. Wallace covers the Financial sector, focusing on stocks such as American National Bankshares, Meridian Interstate Bancorp, and Business First Bancshares.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for People’s United Financial with a $15.50 average price target, which is a 6.5% upside from current levels. In a report issued on January 7, 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 September 30, the company reported a quarterly revenue of $493 million and net profit of $145 million. In comparison, last year the company earned revenue of $455 million and had a net profit of $135 million.

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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.

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