Peoples Utah Bancorp (NASDAQ:PUB) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Peoples Utah Bancorp (NASDAQ:PUB) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. They currently have $23.00 target price on the bank’s stock.

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. “

A number of other brokerages have also weighed in on PUB. BidaskClub raised shares of Peoples Utah Bancorp from a sell rating to a hold rating in a research note on Thursday, April 30th. Raymond James upgraded shares of Peoples Utah Bancorp from a market perform rating to an outperform rating and set a $24.00 target price on the stock in a report on Wednesday, June 17th. Finally, ValuEngine downgraded shares of Peoples Utah Bancorp from a hold rating to a sell rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Peoples Utah Bancorp has an average rating of Hold and a consensus price target of $23.50.

Peoples Utah Bancorp stock opened at $21.49 on Tuesday. The firm has a 50-day moving average price of $21.82 and a two-hundred day moving average price of $23.69. The firm has a market capitalization of $422.17 million, a price-to-earnings ratio of 9.14 and a beta of 0.91. Peoples Utah Bancorp has a 52-week low of $13.55 and a 52-week high of $31.27.

Peoples Utah Bancorp (NASDAQ:PUB) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $30.96 million during the quarter, compared to analyst estimates of $30.12 million. Peoples Utah Bancorp had a net margin of 33.06% and a return on equity of 13.64%. Research analysts anticipate that Peoples Utah Bancorp will post 2.03 earnings per share for the current year.

In other news, Director Jr. Fred W. Fairclough sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $17.74, for a total transaction of $66,525.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rick W. Anderson sold 3,900 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $23.63, for a total transaction of $92,157.00. The disclosure for this sale can be found here. Insiders have sold 52,650 shares of company stock worth $1,098,020 in the last 90 days. 16.17% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PUB. Advisor Group Holdings Inc. bought a new stake in Peoples Utah Bancorp in the first quarter worth approximately $29,000. Great West Life Assurance Co. Can bought a new stake in Peoples Utah Bancorp in the fourth quarter worth approximately $48,000. Marshall Wace North America L.P. bought a new stake in Peoples Utah Bancorp in the first quarter worth approximately $58,000. Marshall Wace LLP bought a new stake in Peoples Utah Bancorp in the first quarter worth approximately $80,000. Finally, Citigroup Inc. grew its position in Peoples Utah Bancorp by 36.8% in the first quarter. Citigroup Inc. now owns 4,686 shares of the bank’s stock worth $91,000 after acquiring an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 40.55% 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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