Altabancorp (NASDAQ:ALTA) major shareholder Newbold Family Trust sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 20th. The stock was sold at an average price of $40.97, for a total transaction of $102,425.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of ALTA stock traded up $0.71 during trading hours on Thursday, hitting $41.03. The stock had a trading volume of 50,624 shares, compared to its average volume of 69,922. The company has a market capitalization of $774.24 million, a price-to-earnings ratio of 18.08 and a beta of 0.95. Altabancorp has a twelve month low of $18.60 and a twelve month high of $47.80. The stock has a 50 day moving average price of $43.93.
Altabancorp (NASDAQ:ALTA) last posted its quarterly earnings data on Tuesday, April 27th. The company reported $0.50 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $28.98 million during the quarter, compared to the consensus estimate of $30.19 million. Altabancorp had a return on equity of 11.78% and a net margin of 32.29%. As a group, equities research analysts forecast that Altabancorp will post 2.15 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Altabancorp by 8.7% during the fourth quarter. Bank of New York Mellon Corp now owns 103,995 shares of the company’s stock worth $2,904,000 after purchasing an additional 8,345 shares during the period. Rhumbline Advisers lifted its holdings in shares of Altabancorp by 13.5% during the fourth quarter. Rhumbline Advisers now owns 26,769 shares of the company’s stock worth $747,000 after purchasing an additional 3,192 shares during the period. Citigroup Inc. lifted its holdings in shares of Altabancorp by 211.6% during the fourth quarter. Citigroup Inc. now owns 3,574 shares of the company’s stock worth $100,000 after purchasing an additional 2,427 shares during the period. Credit Suisse AG acquired a new stake in shares of Altabancorp during the fourth quarter worth $449,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Altabancorp by 359.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 47,491 shares of the company’s stock worth $1,326,000 after purchasing an additional 37,159 shares during the period. 45.29% of the stock is owned by institutional investors and hedge funds.
ALTA has been the topic of several recent analyst reports. Raymond James reiterated a “market perform” rating on shares of Altabancorp in a research note on Wednesday, May 26th. Zacks Investment Research lowered shares of Altabancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 29th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $49.00 price target (up from $46.00) on shares of Altabancorp in a research note on Wednesday, May 26th.
Altabancorp operates as the bank holding company for Altabank, a state-chartered bank that provides retail and commercial banking products and services. The company accepts checking, rewards checking, savings, and money market deposit accounts, as well as individual retirement accounts and certificates of deposit.
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