Stock On Watch: People’s United Financial, Inc. Sets 52-Week High; Strong Momentum for Holders

Stock On Watch: People's United Financial, Inc. Sets 52 Week High; Strong Momentum for Holders

The stock of People’s United Financial, Inc. (NASDAQ:PBCT) hit a new 52-week high and has $22.03 target or 28.00% above today’s $17.21 share price. The 8 months bullish chart indicates low risk for the $5.33B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $22.03 price target is reached, the company will be worth $1.49 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.89M shares traded hands. People’s United Financial, Inc. (NASDAQ:PBCT) has risen 8.75% since April 7, 2016 and is uptrending. It has outperformed by 3.97% the S&P500.

People’s United Financial, Inc. (NASDAQ:PBCT) Ratings Coverage

Out of 4 analysts covering People’s United Financial Inc (NASDAQ:PBCT), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. People’s United Financial Inc has been the topic of 7 analyst reports since July 20, 2015 according to StockzIntelligence Inc. On Tuesday, April 5 the stock rating was downgraded by Morgan Stanley to “Underweight”. On Monday, January 25 the stock rating was upgraded by Piper Jaffray to “Neutral”. As per Wednesday, June 29, the company rating was upgraded by Piper Jaffray.

According to Zacks Investment Research, “People’s Bank is a diversified financial services company providing consumer and commercial banking services, in addition to insurance, trust and financial advisory services. Through its subsidiaries, People’s provides brokerage and financial advisory services, asset management, equipment financing and insurance services.”

Insitutional Activity: The institutional sentiment increased to 1.42 in Q2 2016. Its up 0.43, from 0.99 in 2016Q1. The ratio improved, as 28 funds sold all People’s United Financial, Inc. shares owned while 106 reduced positions. 50 funds bought stakes while 140 increased positions. They now own 235.50 million shares or 1.19% less from 238.33 million shares in 2016Q1.
Winton Cap Limited has 11,308 shares for 0% of their US portfolio. New Mexico Educational Retirement Board has 35,288 shares for 0.02% of their US portfolio. The New York-based New York State Teachers Retirement System has invested 0.03% in People’s United Financial, Inc. (NASDAQ:PBCT). Bailard last reported 14,217 shares in the company. Allianz Asset Mgmt Ag last reported 17,405 shares in the company. Wall Street Access Asset Limited, a New York-based fund reported 57,281 shares. Aperio Grp Limited Liability Corp last reported 111,609 shares in the company. Moreover, Retirement Of Alabama has 0.01% invested in People’s United Financial, Inc. (NASDAQ:PBCT) for 158,482 shares. Finemark Financial Bank Trust holds 0% or 2,257 shares in its portfolio. Mitsubishi Ufj & Banking has invested 0.04% of its portfolio in People’s United Financial, Inc. (NASDAQ:PBCT). Bbva Compass Bankshares accumulated 10,586 shares or 0.01% of the stock. Signaturefd Limited Liability Co holds 0% or 1,017 shares in its portfolio. Tru Of Vermont holds 0.21% of its portfolio in People’s United Financial, Inc. (NASDAQ:PBCT) for 105,459 shares. State Board Of Administration Of Florida Retirement holds 494,704 shares or 0.02% of its portfolio. Visionary Asset Management Incorporated accumulated 165,039 shares or 0.86% of the stock.

Insider Transactions: Since August 5, 2016, the stock had 3 insider buys, and 4 insider sales for $2.61 million net activity. McAllister – Nancy had bought 8,000 shares worth $200,000. $248,695 worth of shares were sold by NORTON DAVID K on Wednesday, August 31. Trautmann Robert E sold $161,200 worth of People’s United Financial, Inc. (NASDAQ:PBCT) on Wednesday, November 2. The insider WALTERS KIRK W bought 40,000 shares worth $1.00 million. $200,000 worth of People’s United Financial, Inc. (NASDAQ:PBCT) was bought by RICHARDS MARK W on Monday, October 24.

More recent People’s United Financial, Inc. (NASDAQ:PBCT) news were published by: Prnewswire.com which released: “People’s United Financial, Inc. Announces Pricing Of Offering Of Preferred Stock” on October 24, 2016. Also Prnewswire.com published the news titled: “People’s United Financial, Inc. Releases Results of 2016 Dodd-Frank Act …” on October 21, 2016. Prnewswire.com‘s news article titled: “People’s United Bank, Gerstein Fisher Merger Complete, Offering Wide Range of …” with publication date: November 02, 2016 was also an interesting one.

PBCT Company Profile

People’s United Financial, Inc. (People’s United), incorporated on February 11, 2006, is the bank holding firm for People’s United Bank, National Association (the Bank). The Bank is a national banking association. The principal business of the Company is to provide commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The Company’s divisions include Commercial Banking, Retail Banking, Wealth Management, Treasury and Other. The Treasury area manages the Company’s securities portfolio, short-term investments, brokered deposits and wholesale borrowings. The Company’s traditional banking activities are conducted primarily within New England and southeastern New York, and include extending secured and unsecured commercial and consumer loans, originating mortgage loans secured by residential and commercial properties, and accepting consumer, commercial and municipal deposits. In addition to traditional banking activities, the Bank provides specialized financial services, such as personal, institutional and employee benefit trust; cash management, and municipal banking and finance. The Bank offers brokerage, financial advisory services, investment management services and life insurance through People’s Securities, Inc. (PSI); equipment financing through People’s Capital and Leasing Corp. (PCLC) and People’s United Equipment Finance Corp. (PUEFC), and other insurance services through People’s United Insurance Agency, Inc. (PUIA).

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