Peoples United Financial (PBCT): Price Target and June Short Interest Disclosure

Peoples United Financial (PBCT) : The highest short term price target forecast on Peoples United Financial (PBCT) is $17 and the lowest target price is $13. A total of 7 equity analysts are currently covering the company. The average price of all the analysts is $14.21 with a standard deviation of $1.07.

Peoples United Financial (PBCT) has seen a rise of 2,835,294 shares or 9.1% in the short interest. The remaining shorts are 11% of the total floated shares. The net short interest, as on June 30,2016, stood at 33,961,440 shares and the stocks days to cover will be 6 by factoring in the average per day volume of 5,848,265 shares. On June 15,2016, 31,126,146 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, In a research note released to the investors, Piper Jaffray upgrades its rating on Peoples United Financial (NASDAQ:PBCT).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Underweight by the brokerage firm. The rating by the firm was issued on June 29, 2016.


Peoples United Financial (NASDAQ:PBCT): stock turned positive on Thursday. Though the stock opened at $15.4, the bulls momentum made the stock top out at $15.53 level for the day. The stock recorded a low of $15.3 and closed the trading day at $15.46, in the green by 1.58%. The total traded volume for the day was 3,635,278. The stock had closed at $15.22 in the previous days trading.

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.

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