KBW Reiterates Outperform on People's United Financial

KBW is out with its report today on People's United Financial PBCT, reiterating Outperform. In a note to clients, KBW writes, "Operating earnings for PBCT exceeded both Street and KBW estimates as the bank's bottom line benefited from spread and fee income growth. Organic loan and deposit growth continued while core expenses declined and the margin held pretty steady. Modestly adjusting estimates, maintaining target and reiterating OP rating." KBW maintains a $16 PT on PBCT. Shares of PBCT closed Thursday at $13.60.