Welcome to our dedicated page for PBCT news (Ticker: PBCT), a resource for investors and traders seeking the latest updates and insights on PBCT stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect PBCT's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of PBCT's position in the market.
People's United Bank has appointed Stephen Hoffman as Managing Director for its new Utilities, Power and Renewable Energy division within Corporate Banking. This initiative aims to support the transition to clean energy by providing financing and risk management services to energy infrastructure clients, including utilities and renewable energy companies. Hoffman's extensive experience in energy banking positions him to lead this growth opportunity, targeting the anticipated capital investments needed for achieving net-zero emissions by 2035.
People's United Advisors has appointed Tom Ehrhardt as Senior Vice President and Head of Private Banking, effective February 1, 2021. Ehrhardt, who previously led lending operations at Oaknorth U.S. and held senior roles at First Republic, brings extensive experience in managing substantial loan portfolios. His responsibilities will focus on oversight, expansion, and revenue growth across lending, deposit, and asset management sectors. This strategic appointment aims to enhance PUA's private banking services and support its growth trajectory.
People's United Financial, Inc. (NASDAQ: PBCT) has declared a quarterly cash dividend of $0.3515625 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. This dividend is scheduled for payment on March 15, 2021, to shareholders of record as of the close of business on March 1, 2021. With over $63 billion in total assets, People's United Financial operates a network of more than 400 retail locations across several states, offering diverse financial services including commercial and retail banking.
People's United Financial, Inc. (NASDAQ: PBCT) reported net income of $207.7 million, or $0.49 per share, for Q4 2020, representing a significant increase from $144.6 million in Q3 2020. Yearly net income reached $572.6 million, compared to $520.4 million in 2019. The company achieved a net interest income of $382.8 million with a margin of 2.84%. Non-interest income surged to $178.2 million, boosted by a net gain from the sale of the People's United Insurance Agency. The efficiency ratio improved to 55.5%, while total loans decreased by 3% from the previous quarter.
People's United Financial, Inc. (NASDAQ: PBCT) announced a conference call to discuss its fourth quarter and full-year 2020 results scheduled for January 21, 2021, at 5 p.m. EST. The results will be released at approximately 4 p.m. on the same day. Investors can access the call live through the company's investor relations website and it will be archived for 90 days. People's United Bank, a subsidiary of People's United Financial, has around $61 billion in assets and offers commercial and retail banking across the Northeast.
People's United Bank (NASDAQ: PBCT) has finalized the sale of People's United Insurance Agency to AssuredPartners as of November 2, 2020. The transaction was initially announced on September 22, 2020. People's United Insurance Agency operates as a full-service insurance brokerage in the Northeast, offering a range of commercial, personal, and employee benefit insurance solutions. AssuredPartners, one of the fastest-growing insurance brokers in the U.S., focuses on acquiring insurance brokerage businesses nationwide.
People's United Financial reported a strong third quarter for 2020, with net income of $144.6 million or $0.34 per share, up from $89.9 million in Q2 2020. Operating earnings also rose by 43% linked-quarter. Total loans increased by 1% from the previous quarter, largely due to growth in commercial lending. The company reported a net interest margin of 2.97% and a dividend of $0.18 per common share, resulting in a 6.8% dividend yield. However, net interest income fell to $391.4 million, down from $405.6 million in Q2.
People's United Bank, a subsidiary of People's United Financial, announced an expansion of its Treasury Management services through a partnership with Transactis, a Mastercard company. This partnership will introduce digital Accounts Receivables capabilities, enhancing the efficiency of billing and payments for clients. The solution offers businesses automation, improved cash flow, and various payment options, including ACH and mobile wallets. Additionally, People's United has partnered with FIS and MineralTree to enhance its AP Automation solutions, further bolstering client experiences.
FAQ
What is the market cap of PBCT (PBCT)?
