NEW YORK (TheStreet) -- Shares of People's United Financial (PBCT) - Get Report were increasing in late-morning trading on Friday after the company posted better-than-anticipated results for the 2016 third quarter.
After yesterday's closing bell, the Bridgeport, CT-based bank holding company reported adjusted earnings of 25 cents per share, topping analysts' estimates of 23 cents per share.
Total revenue for the period was $345 million, above analysts' forecasts of $332 million, according to FactSet.
"We are pleased with our financial results this quarter, which reflect further improvements in profitability and continued growth in earning assets," CFO David Rosato said in a statement.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and notable return on equity.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: PBCT