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People's United: 1Q Earnings Snapshot

BRIDGEPORT, Conn. (AP) _ People's United Financial Inc. (PBCT) on Thursday reported first-quarter profit of $114.6 million.

On a per-share basis, the Bridgeport, Connecticut-based company said it had net income of 30 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to 33 cents per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 33 cents per share.

The holding company for People's United Bank posted revenue of $535.1 million in the period. Its adjusted revenue was $427.4 million, missing Street forecasts. Five analysts surveyed by Zacks expected $432.1 million.

People's United shares have climbed 19 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 16 percent. In the final minutes of trading on Thursday, shares hit $17.12, a drop of roughly 7 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PBCT at https://www.zacks.com/ap/PBCT