Seaport Global Securities lifts People’s United Financial Inc. [PBCT] price estimate. Who else is bullish?



People’s United Financial Inc. [NASDAQ: PBCT] price surged by 3.83 percent to reach at $0.7. The company report on November 5, 2021 that People’s United Financial, Inc. Announces Annual Shareholders Meeting Date.

People’s United Financial, Inc. (the “Company”) (NASDAQ: PBCT), the holding company for People’s United Bank, N.A., announced today that the Annual Meeting of Shareholders (the “2021 Annual Meeting”) will be held on Thursday, December 16, 2021, at 2:00 p.m. The close of business on November 16, 2021, has been set as the record date for determination of shareholders entitled to notice of, and to vote at, the 2021 Annual Meeting.

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The Company has rescheduled the 2021 Annual Meeting in order to comply with NASDAQ corporate governance requirements. The 2021 Annual Meeting had been delayed due to the pending merger of the Company with M&T Bank Corporation (the “Merger”). If all closing conditions for the completion of the Merger, including receipt of approval from the Board of Governors of the Federal Reserve System, are satisfied or waived prior to December 16, 2021, the 2021 Annual Meeting will not be held.

A sum of 5385989 shares traded at recent session while its average daily volume was at 4.43M shares. People’s United Financial Inc. shares reached a high of $19.22 and dropped to a low of $18.50 until finishing in the latest session at $18.99.

The one-year PBCT stock forecast points to a potential upside of 1.4. The average equity rating for PBCT stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on People’s United Financial Inc. [PBCT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PBCT shares is $19.26 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PBCT stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Seaport Global Securities have made an estimate for People’s United Financial Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 06, 2021. The new note on the price target was released on February 26, 2021, representing the official price target for People’s United Financial Inc. stock. Previously, the target price had yet another raise to $16, while Jefferies analysts kept a Buy rating on PBCT stock.

The Average True Range (ATR) for People’s United Financial Inc. is set at 0.54, with the Price to Sales ratio for PBCT stock in the period of the last 12 months amounting to 4.93. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 19.75. Price to Free Cash Flow for PBCT in the course of the last twelve months was 10.47.

PBCT Stock Performance Analysis:

People’s United Financial Inc. [PBCT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.09. With this latest performance, PBCT shares gained by 11.71% in over the last four-week period, additionally plugging by 14.47% over the last 6 months – not to mention a rise of 47.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PBCT stock in for the last two-week period is set at 66.01, with the RSI for the last a single of trading hit 74.19, and the three-weeks RSI is set at 61.41 for People’s United Financial Inc. [PBCT]. The present Moving Average for the last 50 days of trading for this stock 17.82, while it was recorded at 18.14 for the last single week of trading, and 17.46 for the last 200 days.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PBCT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for People’s United Financial Inc. go to 13.73%.

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People’s United Financial Inc. [PBCT] Insider Position Details

There are presently around $5,609 million, or 74.60% of PBCT stock, in the hands of institutional investors. The top three institutional holders of PBCT stocks are: STATE STREET CORP with ownership of 55,337,678, which is approximately 15.753% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 47,073,900 shares of the stock with an approximate value of $860.98 million in PBCT stocks shares; and BLACKROCK INC., currently with $639.6 million in PBCT stock with ownership of nearly -0.344% of the company’s market capitalization.

246 institutional holders increased their position in People’s United Financial Inc. [NASDAQ:PBCT] by around 31,284,968 shares. Additionally, 199 investors decreased positions by around 28,102,388 shares, while 95 investors held positions by with 247,288,848 shares. The mentioned changes placed institutional holdings at 306,676,204 shares, according to the latest SEC report filing. PBCT stock had 74 new institutional investments in for a total of 5,625,898 shares, while 49 institutional investors sold positions of 10,204,176 shares during the same period.