Sandler O’Neill Upgrades People’s United Financial to Hold

By Carrie Williams

In a report released today, Mark Fitzgibbon from Sandler O’Neill upgraded People’s United Financial (NASDAQ: PBCT) to Hold. The company’s shares opened today at $19.10, close to its 52-week high of $20.13.

According to TipRanks.com, Fitzgibbon is a 3-star analyst with an average return of 6.8% and a 65.2% success rate. Fitzgibbon covers the Financial sector, focusing on stocks such as Provident Financial Services, Dime Community Bancshares, and Clifton Savings Bancorp.

People’s United Financial has an analyst consensus of Hold, with a price target consensus of $19.33.

The company has a one year high of $20.13 and a one year low of $13.80. Currently, People’s United Financial has an average volume of 3.6M.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Robert Trautmann, the Sr Ex VP, Gen Cnsl & Secretary of PBCT sold 7,800 shares for a total of $149,526.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

People’s United Financial, Inc. is a savings and loan holding company. It provides commercial banking, retail and business banking and wealth management services to individual, corporate and municipal customers through People’s United Bank and its subsidiaries. It operates through the Commercial Banking and Retail Banking segments. The Commercial Banking segment consists commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities. This segment also includes the equipment financing operations of People’s Capital and Leasing Corp. and People’s United Equipment Finance Corp, as well as cash management, correspondent banking and municipal banking. The Retail Banking segment includes as its principal business lines, business lending, consumer and business deposit gathering activities, consumer lending (including residential mortgage and home equity lending), and merchant services. This segment also includes brokerage, financial advisory services, investment management services and life insurance provided by People’s Securities, Inc. and non-institutional trust services. The company was founded on November 2, 2006 and is headquartered in Bridgeport, CT.