Hanson Doremus Investment Management Lowers stake in People's United Financial (PBCT)

People's United Financial (PBCT) : Hanson Doremus Investment Management reduced its stake in People's United Financial by 0.83% during the most recent quarter end. The investment management company now holds a total of 242,693 shares of People's United Financial which is valued at $4,509,236 after selling 2,030 shares in People's United Financial , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.People's United Financial makes up approximately 2.10% of Hanson Doremus Investment Management’s portfolio.

Other Hedge Funds, Including , Nuveen Fund Advisors boosted its stake in PBCT in the latest quarter, The investment management firm added 103,253 additional shares and now holds a total of 121,141 shares of People's United Financial which is valued at $2,214,457. People's United Financial makes up approx 0.31% of Nuveen Fund Advisors’s portfolio.Blackrock Advisors reduced its stake in PBCT by selling 6,204 shares or 1.76% in the most recent quarter. The Hedge Fund company now holds 346,257 shares of PBCT which is valued at $5,792,880. People's United Financial makes up approx 0.01% of Blackrock Advisors’s portfolio. Quantitative Investment Management added PBCT to its portfolio by purchasing 192,700 company shares during the most recent quarter which is valued at $3,112,105. People's United Financial makes up approx 0.11% of Quantitative Investment Management’s portfolio.Ota Financial Group reduced its stake in PBCT by selling 18,880 shares or 58.61% in the most recent quarter. The Hedge Fund company now holds 13,332 shares of PBCT which is valued at $215,845. People's United Financial makes up approx 0.19% of Ota Financial Group’s portfolio.Butensky Cohen Financial Security Inc reduced its stake in PBCT by selling 6,165 shares or 4.53% in the most recent quarter. The Hedge Fund company now holds 130,030 shares of PBCT which is valued at $2,070,728. People's United Financial makes up approx 2.06% of Butensky Cohen Financial Security Inc’s portfolio.

People's United Financial opened for trading at $18.31 and hit $18.34 on the upside on Monday, eventually ending the session at $18.29, with a gain of 0.16% or 0.03 points. The heightened volatility saw the trading volume jump to 31,82,194 shares. Company has a market cap of $5,695 M.

On the company’s financial health, People's United Financial reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $0.23.Analysts expectations of $ 330.81.During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on People's United Financial. People's United Financial was Downgraded by Piper Jaffray to ” Underweight” on Nov 16, 2016.

People’s United Financial Inc. is a savings and loan holding company. It is a holding company for People’s United Bank (the Bank) a federally-chartered stock savings bank headquartered in Bridgeport Connecticut. The principal business of the Company is to provide through the Bank and its subsidiaries commercial banking retail banking and wealth management services to individual corporate and municipal customers. The Company’s operates through three segments: Commercial Banking Retail Banking and Wealth Management. In addition the Treasury area manages the Company’s securities portfolio short-term investments brokered deposits and wholesale borrowings. In addition to traditional banking activities the Bank provides specialized financial services: personal institutional and employee benefit trust; cash management and municipal banking and finance.

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