Peoples United Financial (PBCT) : Traders are bullish on Peoples United Financial (PBCT) as it has outperformed the S&P 500 by a wide margin of 0.85% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.46%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.43% in the last 1 week, and is up 1.23% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Peoples United Financial Inc. is up 2.37% in the last 3-month period. Year-to-Date the stock performance stands at -0.03%. The stock has recorded a 20-day Moving Average of 2.16% and the 50-Day Moving Average is 3.64%.
Peoples United Financial (NASDAQ:PBCT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.50 and $15.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.61, notching a gain of 0.58% for the day. The total traded volume was 2,416,928 . The stock had closed at $15.52 on the previous day.
Also, Piper Jaffray upgrades its view on Peoples United Financial (NASDAQ:PBCT) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Underweight. The rating by the firm was issued on June 29, 2016.
Peoples United Financial, Inc. is a savings and loan holding company. It is a holding company for Peoples 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 Companys operates through three segments: Commercial Banking, Retail Banking and Wealth Management. In addition, the Treasury area manages the Companys 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.