People’s United Financial (NASDAQ: PBCT) was downgraded by research analysts at Bank of America (NYSE: BAC) from a “neutral” rating to an “underperform” rating in a report issued on Monday.
Separately, analysts at Sterne Agee reiterated a “neutral” rating on shares of People’s United Financial in a research note to investors on Friday, January 20th. Analysts at Janney Montgomery Scott downgraded shares of People’s United Financial from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, January 10th. Also, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of People’s United Financial in a research note to investors on Thursday, January 5th. They now have a $14.00 price target on the stock.
People’s United Financial, Inc. (People’s United Financial) is a savings and loan holding company. The principal business of People’s United Financial is to provide, through People’s United Bank and its subsidiaries, commercial banking, retail and small business banking, and wealth management services to individual, corporate and municipal customers. Traditional banking activities are conducted primarily within New England, and include extending secured and unsecured commercial and consumer loans, originating mortgage loans secured by residential and commercial properties, and accepting consumer, commercial and municipal deposits. On February 19, 2010, the Company completed its acquisition of Financial Federal Corporation (Financial Federal), a financial services company that provides collateralized lending, financing and leasing services nationwide to small and medium sized businesses. In December 2010, it acquired LSB Corporation and Smithtown Bancorp, Inc.
Shares of People’s United Financial traded down 0.74% during mid-day trading on Monday, hitting $12.47. People’s United Financial has a one year low of $10.50 and a one year high of $13.96. The stock’s 50-day moving average is $12.89 and its 200-day moving average is $12.29. The company has a market cap of $4.348 billion and a P/E ratio of 22.04.