Piper Jaffray Upgrades People's United Financial to Neutral

Brokerage firm Piper Jaffray Upgrades its rating on People's United Financial(NASDAQ:PBCT). The shares have been rated Neutral. Previously, the analysts had a Underweight rating on the shares. The rating by Piper Jaffray was issued on Jun 29, 2016.

In a different note, On Apr 22, 2016, Piper Jaffray said it Downgrades its rating on People's United Financial. The shares have been rated ‘Underweight’ by the firm. On Apr 5, 2016, JP Morgan said it Maintains its rating on People's United Financial. In the research note, the firm Raises the price-target to $15.50 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 5, 2016, Morgan Stanley said it Downgrades its rating on People's United Financial. The shares have been rated ‘Underweight’ by the firm.

People's United Financial (PBCT) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.07% at a volume of 38,82,932. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.66. The peak price level was also seen at $14.66 while the days lowest was $14.49. Finally the shares closed at $14.65. The 52-week high of the shares is $16.95 while the 52-week low is $13.62. According to the latest information available, the market cap of the company is $4,554 M.

People's United Financial(PBCT) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $329.70M. Analysts had an estimated revenue of $331.76M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.21.

Several Insider Transactions has been reported to the SEC. On Jul 23, 2015, Galan G Daukas (Sr. Executive Vice President) sold 4,865 shares at $16.20 per share price.Also, On Jun 18, 2015, Kirk W Walters (Sr Ex VP & Chief Fin’l Officer) sold 383,982 shares at $16.09 per share price.On Jun 18, 2015, Jeffrey Hoyt (Controller) sold 87,841 shares at $16.11 per share price, according to the Form-4 filing with the securities and exchange commission.

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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