Shares of People’s United Financial, Inc. (NASDAQ:PBCT) ended Thursday session in green amid volatile trading. The shares closed up +0.06 points or 0.37% at $16.25 with 3.62 million shares getting traded. Post opening the session at $16.18, the shares hit an intraday low of $16.02 and an intraday high of $16.25 and the price vacillated in this range throughout the day. The company has a market cap of $5.13 billion and the numbers of outstanding shares have been calculated to be 311.22 million shares.
People’s United Financial, Inc. (PBCT) on July 21, 2016 reported net income of $68.5 million, or $0.23 per share, for the second quarter of 2016, compared to $61.7 million, or $0.20 per share, for the second quarter of 2015, and $62.9 million, or $0.21 per share, for the first quarter of 2016.
The Company’s Board of Directors declared a $0.17 per share quarterly dividend, payable August 15, 2016 to shareholders of record on August 1, 2016. Based on the closing stock price on July 20, 2016, the dividend yield on People’s United Financial common stock is 4.4 percent.
“We are pleased with the Company’s performance this quarter,” commented Jack Barnes, President and Chief Executive Officer. “Net income of $68.5 million increased 11 percent from the prior year quarter and generated a return on average tangible equity of 10.1 percent. As expected, loan production rebounded in the second quarter as the portfolio grew more than seven percent on an annualized basis, with particularly strong results in commercial and industrial lending as well as residential mortgage. While deposit balances were modestly lower due to seasonal declines in our retail and municipal businesses, franchise-wide cross-sell and commercial deposit gathering efforts continue to be successful.”
Shares of Unum Group (NYSE:UNM) ended Thursday session in red amid volatile trading. The shares closed down -0.03 points or -0.08% at $35.61 with 1.72 million shares getting traded. Post opening the session at $35.72, the shares hit an intraday low of $35.14 and an intraday high of $35.86 and the price vacillated in this range throughout the day. The company has a market cap of $8.48 billion and the numbers of outstanding shares have been calculated to be 234.64 million shares.
Unum Group (UNM) announced that Rick McKenney, president and chief executive officer, will be representing the company at the 2016 KBW Insurance Conference, Wednesday, September 7, 2016, in New York City.
McKenney is scheduled to speak at 9:30 a.m. Eastern and will discuss the company’s business strategy and future growth prospects. There will be a live audio webcast of the presentation available on the Investors section of the company’s website, www.investors.unum.com, on the News and Events page.