LONDON, May 7, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings review on People's United Financial Inc. (NASDAQ: PBCT). On April 16, 2015, the company reported its financial results for Q1 FY15 (period ended March 31, 2015). Click on http://get.Investor-Edge.com/pdf/?c=People%27s%20United%20Financial&d=07-May-2015&s=PBCT to read our free earnings review on People's United Financial Inc. (People's United). During Q1 FY15, the company's total revenues and net income were $322.9 million and $59.2 million, respectively. President and CEO of People's United, Jack Barnes, said that the company's performance in Q1 FY15 is an encouraging start to the year, especially given the persistent low interest rate environment as well as the severe winter weather across its markets. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=People%27s%20United%20Financial&d=07-May-2015&s=PBCT
Earnings Overview
During Q1 FY15, People's United's total revenues improved $11.2 million Y-o-Y from $311.7 million in Q1 FY14. The company's total revenues during Q1 FY15 outperformed Bloomberg analysts' forecast of $313.9 million. People's United's net interest income increased to $228.1 million in Q1 FY15 from $227.1 million in Q1 FY14. Further, non-interest income grew to $89.0 million in Q1 FY15 from $79.9 million in Q1 FY14. However, the company's net interest margin decreased to 2.91% in Q1 FY15 from 3.17% in Q1 FY14.
In Q1 FY15, People's United's operating earnings grew to $63.2 million, or $0.21 per share, from $56.5 million, or $0.19 per share, in Q1 FY14. The company's net income increased by $6.1 million, or $0.02 per diluted share, in Q1 FY15 from $53.1 million, or $0.18 per diluted share, in Q1 FY14. Analysts from Bloomberg had expected net income of $59.7 million, or $0.20 per diluted share, in Q1 FY15. Free research on PBCT can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=People%27s%20United%20Financial&d=07-May-2015&s=PBCT
Senior Executive Vice President and CFO of People's United, David Rosato, said that the company's Q1 FY15 results reflects the company's continued focus on improving operating leverage through revenue growth and effective expense management. He informed that the company's revenues grew 3% from Q1 FY14 mostly due to higher non-interest income, while operating expenses remained flat. He informed that the company is comfortable with its capital structure and balance sheet strength.
As of March 31, 2015, People's United's common equity tier 1 capital and total risk-based capital ratios stood at 10.0% and 12.0%, respectively, while the tangible equity ratio was 7.5%. People's United Bank's (a subsidiary of People's United) common equity tier 1 capital and total risk-based capital ratios were 10.6% and 13.0%, respectively, as of March 31, 2015. Additionally, book value per share and tangible book value per share as of March 31, 2015 were $15.55 and $8.58, respectively. Sign up and read the free analyst's notes on PBCT at:
http://get.Investor-Edge.com/pdf/?c=People%27s%20United%20Financial&d=07-May-2015&s=PBCT
On April 16, 2015, People's United's Board of Directors voted to increase the common stock dividend to an annual rate of $0.67 per share. They announced a quarterly dividend of $0.1675 per share, which is payable May 15, 2015 to shareholders of record on May 01, 2015. Mr. Barnes said that the company was pleased to announce a 22nd consecutive annual dividend increase, which reflects People's United continued commitment to delivering value for shareholders through a consistent return of capital
Stock Performance
On the day of the earnings release, April 16, 2015, People's United' stock edged 0.26% higher to end the session at $15.23. Since then, the stock has witnessed a mixed momentum. On the last close, Wednesday, May 06, 2015, the company's shares finished at $15.24, which was 1.13% above their previous day's closing price of $15.07. The stock vacillated between $14.97 and $15.24 during the session. A total of 4.94 million shares were traded which was above their three months average volume of 2.74 million shares. The stock has advanced 1.67% in the previous three sessions and 0.66% in the last one month. Further, the stock gained 3.60% in the past three months. Shares in People's United closed above their 50-day and 200-day moving averages of $15.15 and $14.80, respectively. Furthermore, the stock traded at a PE ratio of 17.28 and has a Relative Strength Index (RSI) of 47.29. Visit Investor-Edge and access the latest research on PBCT at:
http://get.Investor-Edge.com/pdf/?c=People%27s%20United%20Financial&d=07-May-2015&s=PBCT
Sneak Peek to Corporate Insider Trading
In the last one month, there were 2 insider transactions made by 2 individuals. Between May 01 and May 04, 2015, a total of 12,905 shares were disposed at an average price of $15.11 per share and for a total value of $194,991. The following are the abovementioned transactions: Directors at People's United, Mark W. Richards and Jerry Franklin, sold 7,905 and 5,000 shares, respectively, at an average price of $15.16 and $15.03 per share, respectively. Complimentary in-depth research on PBCT is available at:
http://get.Investor-Edge.com/pdf/?c=People%27s%20United%20Financial&d=07-May-2015&s=PBCT
About Investor-Edge.com
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
===============
EDITOR'S NOTES:
===============
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] www.investor-edge.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] www.investor-edge.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] www.investor-edge.com for consideration.
COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge. An outsourced research services provider, represented by a registered analyst has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Investor-Edge
