Zacks Investment Research lowered shares of Peoples Utah Bancorp (NASDAQ:PUB) from a buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.
According to Zacks, “People’s Utah Bancorp is a bank holding company which provides banking products and services primarily in the United States. It offers deposit services, commercial, personal and mortgage loans, mobile and Internet banking services; automatic teller machine services as well as business cash management services. The company serves businesses, professional firms, real estate developers, residential home builders, high net-worth individuals, investors and other customers. People’s Utah Bancorp is headquartered in American Fork, Utah. “
Several other research firms have also weighed in on PUB. DA Davidson restated a neutral rating on shares of Peoples Utah Bancorp in a research report on Tuesday, July 30th. ValuEngine lowered shares of Peoples Utah Bancorp from a hold rating to a sell rating in a research report on Saturday, June 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $31.00.
NASDAQ:PUB opened at $28.67 on Friday. Peoples Utah Bancorp has a twelve month low of $25.18 and a twelve month high of $36.30. The company has a 50-day moving average of $27.76 and a 200-day moving average of $28.39. The firm has a market cap of $544.48 million, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.68.
Peoples Utah Bancorp (NASDAQ:PUB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Peoples Utah Bancorp had a net margin of 32.16% and a return on equity of 14.38%. The company had revenue of $31.32 million during the quarter, compared to analyst estimates of $31.24 million. As a group, equities analysts forecast that Peoples Utah Bancorp will post 2.31 earnings per share for the current year.
In other Peoples Utah Bancorp news, Director Paul R. Gunther sold 5,200 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $30.05, for a total value of $156,260.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jr. Fred W. Fairclough sold 1,375 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $25.91, for a total transaction of $35,626.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,209 shares of company stock valued at $1,260,224. Corporate insiders own 17.34% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Peoples Utah Bancorp by 13.7% in the second quarter. BlackRock Inc. now owns 944,017 shares of the bank’s stock worth $27,755,000 after purchasing an additional 113,410 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Peoples Utah Bancorp by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 409,325 shares of the bank’s stock worth $12,341,000 after purchasing an additional 21,376 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Peoples Utah Bancorp in the second quarter worth approximately $570,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Peoples Utah Bancorp in the second quarter worth approximately $496,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Peoples Utah Bancorp in the second quarter worth approximately $495,000. Institutional investors own 37.04% of the company’s stock.
About Peoples Utah Bancorp
People's Utah Bancorp operates as the bank holding company for People's Intermountain Bank that provides retail and commercial banking products and services. The company accepts various deposits, such as checking, rewards checking, savings, and money market deposit accounts, as well as individual retirement accounts and certificates of deposit.
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