5 Cheap Blue-Chip Dividend Stocks to Invest In

2. People’s United Financial, Inc. (NASDAQ: PBCT)

Number of Hedge Fund Holders: 24
Dividend Yield: 4.51%

Share Price as of August 25: $16.18

People’s United Financial, Inc. (NASDAQ: PBCT) is yet another bank holding company on our list of cheap blue-chip dividend stocks to invest in and is the holding company for People’s United Bank, National Association. The company ranks 2nd on our list and is based in Connecticut.

Compass Point holds a Neutral rating and $19.50 price target on shares of People’s United Financial, Inc. (NASDAQ: PBCT) as of this May.

In the second quarter of 2021, People’s United Financial, Inc. (NASDAQ: PBCT) had an EPS of $0.41, beating estimates by $0.08. The company’s revenue was $479.90 million but missed estimates by $17.70 million. People’s United Financial, Inc. (NASDAQ: PBCT) has gained 25.72% year to date and 49.68% in the past year.

By the end of the second quarter of 2021, 24 hedge funds out of the 873 tracked by Insider Monkey held stakes in People’s United Financial, Inc. (NASDAQ: PBCT) worth roughly $219 million. This is compared to 20 hedge funds in the previous quarter with a total stake value of approximately $208 million.