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Piper Sandler Stick to Their Buy Rating for People’s United Financial

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Piper Sandler (NYSE:PIPR) analyst Mark Fitzgibbon maintained a Buy rating on People’s United Financial (NASDAQ:PBCT) on Monday, setting a price target of $12.5, which is approximately 25.88% above the present share price of $9.93.

Fitzgibbon expects People’s United Financial to post earnings per share (EPS) of $0.21 for the third quarter of 2020.

The current consensus among 6 TipRanks analysts is for a Hold rating of shares in People’s United Financial, with an average price target of $12.1.
The analysts price targets range from a high of $13 to a low of $10.5.

In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $495.2 million and a net profit of $0. The company’s market cap is $4.22 billion.

According to TipRanks.com, Piper Sandler analyst Mark Fitzgibbon is currently ranked with 1 stars on a 0-5 stars ranking scale, with an average return of -3.8% and a 44.88% success rate.

People’s United Financial, Inc. is a bank and financial holding company. It engages in the provision of commercial banking, retail and business banking, and wealth management services to individual, corporate and municipal customers. It operates through the following Commercial Banking, Retail Banking, Treasury and Others segments. The Commercial Banking segment consists commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities. The Retail Banking segment comprises consumer lending, and consumer deposit gathering activities, consumer lending, and merchant services. The Treasury segment covers the securities portfolio, short-term investments, brokered deposits, wholesale borrowings, and the funding center. The Other segment includes the residual financial impact from the allocation of revenues and expenses. The company was founded on November 2, 2006 and is headquartered in Bridgeport, CT.

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