People’s United Financial, Inc. Third Quarter Earnings Sneak Peek

The Cheat Sheet

S&P 500 component People’s United Financial, Inc. will unveil its latest earnings on Thursday, October 20, 2011. People’s United Financial is a savings and loan holding company for People’s United Bank, a diversified financial services firm. The company provides consumer and commercial banking as well as wealth management services to individuals and corporate customers.

People’s United Financial, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 17 cents per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. For the year, analysts are projecting net income of 65 cents per share, a rise of 80.6% from last year.

Past Earnings Performance: Last quarter, the company met expectations by reporting profit of 15 cents per share last quarter. In the previous first quarter, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $322.9 million in revenue this quarter, a rise of 28.3% from the year ago quarter. Analysts are forecasting total revenue of $1.24 billion for the year, a rise of 24.2% from last year’s revenue of $998.2 million.

Analyst Ratings: Analysts seem relatively indifferent about People’s United Financial with 10 of 16 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose more than threefold to $51.2 million (15 cents a share) from $16 million (4 cents a share) the year earlier, meeting analyst expectations. Revenue rose 16.1% to $329.4 million from $283.7 million.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose more than threefold in the first quarter and 28.5% in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 23.9% in the first quarter from the year earlier, climbed 14.5% in the fourth quarter of the last fiscal year from the year-ago quarter and 4.2% in the third quarter of the last fiscal year.

Competitors to Watch: Northeast Bancorp/ME , Naugatuck Valley Financial Corp. , Berkshire Hills Bancorp, Inc. , Rockville Financial New Inc (RCKBD), New Hampshire Thrift Bancshares, Inc. , Brookline Bancorp, Inc. , NewAlliance Bancshares, Inc. , SI Financial Group, Inc. , Oneida Financial Corp. , and Westfield Financial, Inc. .

Stock Price Performance: During August 18, 2011 to October 14, 2011, the stock price had risen $1.29 (12%) from $10.73 to $12.02. The stock price saw one of its best stretches over the last year between June 27, 2011 and July 7, 2011 when shares rose for eight-straight days, rising 7.1% (+90 cents) over that span. It saw one of its worst periods between July 21, 2011 and August 2, 2011 when shares fell for nine-straight days, falling 7.8% (-$1.05) over that span. Shares are down $1.50 (-11.1%) year to date.

(Source: Xignite Financials)

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