Hourglass Capital buys $6,927,116 stake in People's United Financial (PBCT)

People's United Financial (PBCT) : Hourglass Capital scooped up 8,100 additional shares in People's United Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 450,105 shares of People's United Financial which is valued at $6,927,116.People's United Financial makes up approximately 1.60% of Hourglass Capital’s portfolio.

Other Hedge Funds, Including , Blackrock Institutional Trust Company N.a. reduced its stake in PBCT by selling 34,621 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 9,234,380 shares of PBCT which is valued at $142,117,108. People's United Financial makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio. Proficio Capital Partners added PBCT to its portfolio by purchasing 639 company shares during the most recent quarter which is valued at $9,687. People's United Financial makes up approx 0.01% of Proficio Capital Partners’s portfolio.Alps Advisors Inc boosted its stake in PBCT in the latest quarter, The investment management firm added 304,466 additional shares and now holds a total of 1,674,800 shares of People's United Financial which is valued at $25,540,700. People's United Financial makes up approx 0.23% of Alps Advisors Inc’s portfolio.

People's United Financial opened for trading at $15.5 and hit $15.65 on the upside on Friday, eventually ending the session at $15.61, with a gain of 0.58% or 0.09 points. The heightened volatility saw the trading volume jump to 24,16,928 shares. Company has a market cap of $4,854 M.

On the company’s financial health, People's United Financial reported $0.21 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.21.Analysts expectations of $ 329.41.During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on People's United Financial. Piper Jaffray Upgraded People's United Financial on Jun 29, 2016 to ” Neutral”, Price Target of the shares are set at $14.

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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