$PBCT (People's United Financial Inc.)

$PBCT {{ '2016-03-18T15:45:57+0000' | timeago}} • SEC

$PBCT's net interest margin for 2015 declined by 21 basis points to 2.88% from last year. The decrease primarily reflects continued pricing pressure within the loan portfolio, including the pay-off of higher-yielding loans and new loan originations at rates lower than the existing portfolio, and declining interest income on acquired loans.

$PBCT {{ '2018-01-19T18:50:01+0000' | timeago}} • Webcast

During 4Q17, $PBCT reported an increase for the second consecutive quarter in both return on average assets and return of average tangible common equity that were 96Bps and 13.8% respectively.

$PBCT {{ '2018-01-19T18:45:06+0000' | timeago}} • Webcast

$PBCT's period end loans during 4Q17  increased 2%, driven by strong results from equipment financing units and solid production in middle market commercial and industrial lending. Period end deposits came in at 33.1Bil, up 6%. This increase was mainly due to higher non-interest bearing balances of 347MM.

$PBCT {{ '2018-01-19T18:39:43+0000' | timeago}} • Webcast

For FY18, $PBCT expects to grow loan portfolio to about 4-6% on both a period end and average balance basis. Deposits growth is expected to be about 3-5% on both a period end and average balance basis and net interest income is expected to increase to the range of 10-12%. The bank expects its net interest margin to be in the range of 3.05-3.15%.

$PBCT {{ '2018-01-18T21:58:01+0000' | timeago}} • Announcement

During 4Q17, $PBCT's BoD declared a $0.1725 per common share quarterly dividend payable February 15, 2018 to shareholders of record on February 1, 2018.

$PBCT {{ '2018-01-18T21:56:41+0000' | timeago}} • Announcement

$PBCT reported a rise in its 4Q17 earnings, helped by increased net income and a tax benefit related with the tax reform. Net income rose 40% to $106.2MM, or $0.30 per share from $75.9MM, or $0.24 per share during 4Q16. Net interest income grew to $292.3MM during the quarter from $246.8MM in the previous year.

$PBCT {{ '2018-01-18T21:47:48+0000' | timeago}} • Infographic

$PBCT People's United Financial, Inc. Earnings AlphaGraphic: Q4 2017 Highlights

$PBCT {{ '2017-11-17T12:35:18+0000' | timeago}} • Infographic

$PBCT People's United Financial, Inc. Earnings AlphaGraphic: Q3 2017 Highlights

$PBCT {{ '2017-04-20T12:54:44+0000' | timeago}} • Webcast

On the mortgage warehouse business, $PBCT commented that the split of purchase and refinancing was close to 50-50. The company added that what it's seeing generally in its banks and in the business is that there is more talk about purchase activity and the refinancing applications have dropped considerably.

$PBCT {{ '2017-04-20T12:48:26+0000' | timeago}} • Webcast

$PBCT stated that on the fee guide, the company is still comfortable with the guidance provided. From both a loan origination and a fee income perspective, 1Q17 was slow. So the company expects to see a ramp in most of the line items as the year progresses.

$PBCT {{ '2017-04-20T12:45:05+0000' | timeago}} • Webcast

$PBCT said the overall yield at the securities portfolio was about 3 BP. Additionally, the company added that the utilization on the mortgage warehouse lines have dropped to the mid 40% range, which is a low point. $PBCT expects it to be somewhere in the range that it is now.

$PBCT {{ '2017-04-20T12:12:23+0000' | timeago}} • Announcement

$PBCT's BoD voted to increase the common stock dividend to an annual rate of $0.69 per share.  Based on the closing stock price on April 19, 2017, the dividend yield on its common stock is 3.9%. The quarterly dividend of $0.1725 per share is payable on May 15, 2017 to shareholders of record on May 1, 2017.

$PBCT {{ '2017-04-20T12:11:05+0000' | timeago}} • Announcement

$PBCT reported a rise in 1Q17 earnings driven by higher net interest income and a rise in non-interest income. Net income rose to $70.8MM or $0.22 per share from $62.9MM or $0.21 per share last year. Net interest income grew to $248.6MM from $240.1MM and non-interest income increased to $84.7MM from $82.3MM.

$PBCT {{ '2017-01-19T23:33:43+0000' | timeago}} • Webcast

$PBCT said that the increase in the share count in 4Q16 was mostly driven by the option exercises. The  run up in the stocks supported a number of individuals the opportunity to exercise and that run up in stock price putting more shares on a fully diluted basis, thereby increasing the share count.

$PBCT {{ '2017-01-19T23:01:49+0000' | timeago}} • Webcast

$PBCT said that payroll taxes, 401-K matches and winter-related operational costs will be historically higher in 1Q. These expenses are expected to be higher in 1Q17 compared to $4Q16. The company remains well positioned for an increase in interest rates as the loan mix continues to trend towards floating rate loan.

$PBCT {{ '2017-01-19T22:42:20+0000' | timeago}} • Webcast

For 2017, $PBCT expects targets loans growth to be 5-7% and deposits to grow in the range of 4-6%. Both net interest income and non-interest income are expected to grow 5-7%. Non-interest expenses, excluding merger-related costs, are anticipated to be in the range of $895-915MM compared to $864MM in 2016.

$PBCT {{ '2017-01-19T22:32:06+0000' | timeago}} • Webcast

$PBCT's recent acquisitions of Gerstein Fisher, Eagle Insurance Group and Kesten-Brown have bolstered its wealth management and insurance businesses. The company closed the acquisition of Gerstein Fisher in Nov. 2016 and acquired Suffolk Bancorp earlier in the year. Suffolk is expected to deepen the company's presence in the New York metro area.

$PBCT {{ '2017-01-19T21:34:37+0000' | timeago}} • Announcement

The Board of Directors of $PBCT declared a quarterly dividend of $0.17 per share. The dividend is payable on Feb. 15, 2017 to shareholders of record on Feb. 1, 2017.

$PBCT {{ '2017-01-19T21:32:15+0000' | timeago}} • Announcement

$PBCT reported that commercial loans totaled $21.4Bil at Dec. 31, 2016, an increase of $214MM from Sept. 30, 2016. Residential mortgage loans totaled $6.2Bil at Dec. 31, 2016, an increase of $189MM  from Sept. 30, 2016. Commercial deposits totaled $10.4Bil and retail deposits totaled $19.5Bil at Dec. 31, 2016.

$PBCT {{ '2017-01-19T21:21:46+0000' | timeago}} • Announcement

$PBCT reported a rise in 4Q16 profit, helped by higher net interest income and lower expenses. Net income rose 7% to $75.9MM or $0.24 per share compared to $70.8MM or $0.23 per share in the prior year quarter. Net interest income rose 3.3% to $246.8MM, while non-interest income dropped 9.8% to $84.2MM.

$PBCT {{ '2016-10-20T22:56:29+0000' | timeago}} • Webcast

$PBCT reported that the delay in completing the Suffolk Bancorp acquisition is not related to putting the balance sheet closure to $50Bil. It's because of the normal delays, the company said.

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