People's United: 4Q Earnings Snapshot

BRIDGEPORT, Conn. (AP) _ People's United Financial Inc. (PBCT) on Thursday reported fourth-quarter profit of $137.5 million.

On a per-share basis, the Bridgeport, Connecticut-based company said it had net income of 31 cents. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.

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

The holding company for People's United Bank posted revenue of $621.1 million in the period. Its adjusted revenue was $506.9 million, which also beat Street forecasts. Five analysts surveyed by Zacks expected $487.8 million.

For the year, the company reported profit of $520.4 million, or $1.27 per share. Revenue was reported as $1.84 billion.

People's United shares have dropped roughly 2% since the beginning of the year, while the Standard & Poor's 500 index has increased almost 3%. In the final minutes of trading on Thursday, shares hit $16.62, a climb of roughly 6% 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