In a report issued on July 17, Steven Duong from RBC Capital maintained a Hold rating on People’s United Financial (PBCT), with a price target of $14.00. The company’s shares closed last Friday at $11.35.
According to TipRanks.com, Duong has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -18.1% and a 19.2% success rate. Duong covers the Financial sector, focusing on stocks such as Provident Financial Services, Valley National Bancorp, and First Commonwealth.
The word on The Street in general, suggests a Hold analyst consensus rating for People’s United Financial with a $12.42 average price target, a 6.5% upside from current levels. In a report issued on July 9, Jefferies also maintained a Hold rating on the stock with a $11.00 price target.
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Based on People’s United Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $520 million and net profit of $130 million. In comparison, last year the company earned revenue of $427 million and had a net profit of $115 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.
