People’s United: 2Q Earnings Snapshot
BRIDGEPORT, Conn. (AP) _ People’s United Financial Inc. (PBCT) on Thursday reported second-quarter net income of $133.2 million.
On a per-share basis, the Bridgeport, Connecticut-based company said it had profit of 33 cents. Earnings, adjusted for non-recurring costs, came to 34 cents per share.
The results matched Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 34 cents per share.
The holding company for People’s United Bank posted revenue of $579.1 million in the period. Its adjusted revenue was $454.4 million, exceeding Street forecasts. Five analysts surveyed by Zacks expected $448.8 million.
People’s United shares have increased 14% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. In the final minutes of trading on Thursday, shares hit $16.47, a fall of 10% in the last 12 months.