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Mad Money Spotlight: Bully for People's United
New England regional bank People's United Financial(PBCT Quote) continues to be a favorite of Jim Cramer. In his "Mad Money" broadcast Wednesday evening, he trumpeted the investment opportunities offered by small-bank stocks, singling out People's.
Cramer's rationale? Smaller banks stand to take market share from the tottering behemoths. People's has a capitalization rate of 19.5%, triple the national average, Cramer said in a broadcast several days ago.
Shares of the bank were trading Thursday morning at $16.31, down slightly from the previous session. The stock has lost 8.3% year-to-date. Oddly enough, it spiked to its 52-week high, $21.75, in September, amid the broader banking collapse. ...
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