Have you been eager to see how People's United Financial Inc. performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this CT-based savings and loans bank’s earnings release this morning:
In Line Earnings
People's United came out with earnings per share of 30 cents, in line with the Zacks Consensus Estimate. Higher revenues were offset by elevated expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for People's United depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last seven days.
Moreover, People's United has a decent earnings surprise history. Before posting in line earnings in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 4.87% in the trailing four quarters.
Revenue Came In Lower Than Expected
People's United posted revenues of $392.5 million, which lagged the Zacks Consensus Estimate of $394 million. However, it compared favorably with the year-ago number of $342.8 million.
Key Stats to Note:
- Total revenue increased 14.5% year over year
- Net loans and deposits grew 8.1% and 7.9% year over year, respectively.
- Announced 25th consecutive annual dividend increase.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for People's United. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. It all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this People's United earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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People's United (PBCT) Reports Q1 Earnings As Expected
Have you been eager to see how People's United Financial Inc. performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this CT-based savings and loans bank’s earnings release this morning:
In Line Earnings
People's United came out with earnings per share of 30 cents, in line with the Zacks Consensus Estimate. Higher revenues were offset by elevated expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for People's United depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last seven days.
Moreover, People's United has a decent earnings surprise history. Before posting in line earnings in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 4.87% in the trailing four quarters.
People's United Financial, Inc. Price and EPS Surprise
People's United Financial, Inc. Price and EPS Surprise | People's United Financial, Inc. Quote
Revenue Came In Lower Than Expected
People's United posted revenues of $392.5 million, which lagged the Zacks Consensus Estimate of $394 million. However, it compared favorably with the year-ago number of $342.8 million.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for People's United. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. It all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this People's United earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>