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

S&P 500 (NYSE:SPY) component People’s United Financial, Inc. (NASDAQ:PBCT) will unveil its latest earnings on Thursday, July 21, 2011. People’s United Financial Inc. 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 15 cents per share, a rise of 66.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 13 cents. For the year, analysts are projecting net income of 66 cents per share, a rise of 83.3% from last year.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the first quarter, it reported profit of 15 cents per share versus a mean estimate of 12 cents. Two quarters ago, it reported net income of 10 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $294.6 million in revenue this quarter, a rise of 17.5% from the year ago quarter. Analysts are forecasting total revenue of $1.23 billion for the year, a rise of 23.2% from last year’s revenue of $998.2 million.

Analyst Ratings: Analysts seem relatively indifferent about People’s United Financial with nine of 15 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 23.9% to $327.4 million in first quarter. The figure rose 14.5% in the fourth quarter of the last fiscal year from the year earlier, climbed 4.2% in the third quarter of the last fiscal year from the year-ago quarter and 2.3% in the second quarter of the last fiscal year.

The company has now seen net income rise in two straight quarters. In the first quarter, net income rose more than threefold from the year earlier. In the fourth quarter of the last fiscal year, the figure rose 28.5%.

Competitors to Watch: Northeast Bancorp/ME (NASDAQ:NBN), Naugatuck Valley Financial Corp. (NASDAQ:NVSL), Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB), Rockville Financial New Inc (RCKBD), New Hampshire Thrift Bancshares, Inc. (NASDAQ:NHTB), Brookline Bancorp, Inc. (NASDAQ:BRKL), NewAlliance Bancshares, Inc. (NYSE:NAL), SI Financial Group, Inc. (NASDAQ:SIFID), Oneida Financial Corp. (NASDAQ:ONFC), and Westfield Financial, Inc. (NASDAQ:WFD).

Stock Price Performance: During April 19, 2011 to July 18, 2011, the stock price had risen 81 cents (6%) from $12.59 to $13.40. 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% (+91 cents) over that span. It saw one of its worst periods between March 8, 2011 and March 16, 2011 when shares fell for seven-straight days, falling 3.7% (-47 cents) over that span. Shares are down 61 cents (-4.35%) year to date.

(Source: Xignite Financials)

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