Recap: People's United Finl Q2 Earnings

Shares of People's United Finl PBCT rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 70.83% over the past year to $0.41, which beat the estimate of $0.35.

Revenue of $479,900,000 declined by 3.09% year over year, which missed the estimate of $496,170,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

People's United Finl hasn't issued any revenue guidance for the time being.

Price Action

Company's 52-week high was at $19.62

52-week low: $9.73

Price action over last quarter: down 6.48%

Company Description

People's United Financial Inc has nearly $39 billion of assets. People's United Bank is one of the New England-based banks and among the top 50 in the U.S. Of the bank's 405 locations, 40% are in Connecticut, where it ranks third by deposit market share. It also ranks among the top 10 in Vermont, New Hampshire, and Maine. The bank offers brokerage, financial advisory and wealth management, and insurance services. Commercial real estate accounts for 35% of the loan book, C&I and equipment financing accounts for another 35%, and the rest is in mortgages and consumer.