Peoples Utah Bancorp (NASDAQ:PUB) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Peoples Utah Bancorp (NASDAQ:PUB) from a sell rating to a hold rating in a research note released on Saturday, 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. “

Other equities analysts have also recently issued reports about the stock. DA Davidson reissued a neutral rating on shares of Peoples Utah Bancorp in a research report on Tuesday, July 30th. BidaskClub upgraded shares of Peoples Utah Bancorp from a strong sell rating to a sell rating in a report on Wednesday, October 23rd. Finally, ValuEngine upgraded shares of Peoples Utah Bancorp from a sell rating to a hold rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $31.50.

Shares of PUB traded down $0.11 during mid-day trading on Friday, hitting $29.77. 18,600 shares of the company traded hands, compared to its average volume of 29,915. The business has a 50-day moving average of $28.81 and a 200 day moving average of $28.69. The stock has a market capitalization of $563.88 million, a price-to-earnings ratio of 13.91 and a beta of 0.69. Peoples Utah Bancorp has a one year low of $25.18 and a one year high of $33.94.

Peoples Utah Bancorp (NASDAQ:PUB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $32.66 million for the quarter, compared to the consensus estimate of $31.45 million. Peoples Utah Bancorp had a return on equity of 14.37% and a net margin of 32.15%. As a group, analysts anticipate that Peoples Utah Bancorp will post 2.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, November 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. Peoples Utah Bancorp’s payout ratio is 24.30%.

In other Peoples Utah Bancorp news, Director Jr. Fred W. Fairclough sold 1,375 shares of Peoples Utah Bancorp stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $27.92, for a total value of $38,390.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jr. Fred W. Fairclough sold 3,750 shares of Peoples Utah Bancorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $29.55, for a total transaction of $110,812.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,384 shares of company stock worth $1,682,613. 17.34% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of PUB. Marshall Wace North America L.P. bought a new position in shares of Peoples Utah Bancorp in the 1st quarter valued at about $58,000. River & Mercantile Asset Management LLP bought a new position in shares of Peoples Utah Bancorp in the 2nd quarter valued at about $69,000. Marshall Wace LLP bought a new position in shares of Peoples Utah Bancorp in the 1st quarter valued at about $80,000. Crewe Advisors LLC grew its position in shares of Peoples Utah Bancorp by 141.7% in the 2nd quarter. Crewe Advisors LLC now owns 4,834 shares of the bank’s stock valued at $142,000 after acquiring an additional 2,834 shares during the period. Finally, Alberta Investment Management Corp bought a new position in shares of Peoples Utah Bancorp in the 2nd quarter valued at about $221,000. Hedge funds and other institutional investors own 36.96% of the company’s stock.

Peoples Utah Bancorp Company Profile

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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