Zacks Investment Research cut shares of Peoples Utah Bancorp (NASDAQ:PUB) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
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 equities analysts have also weighed in on the stock. BidaskClub upgraded shares of Peoples Utah Bancorp from a sell rating to a hold rating in a research report on Tuesday, March 6th. Raymond James Financial assumed coverage on shares of Peoples Utah Bancorp in a research report on Wednesday, January 17th. They issued an outperform rating and a $35.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $35.00.
Peoples Utah Bancorp (NASDAQ:PUB) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.05. The business had revenue of $28.47 million during the quarter, compared to analyst estimates of $27.39 million. Peoples Utah Bancorp had a net margin of 19.74% and a return on equity of 11.46%. sell-side analysts anticipate that Peoples Utah Bancorp will post 2.02 EPS for the current year.
In related news, Director Jr. Fred W. Fairclough sold 1,700 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $30.49, for a total transaction of $51,833.00. Following the sale, the director now owns 74,076 shares of the company’s stock, valued at $2,258,577.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jr. Fred W. Fairclough sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $32.61, for a total transaction of $65,220.00. The disclosure for this sale can be found here. Insiders sold 24,907 shares of company stock worth $786,808 in the last three months. Insiders own 25.21% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new stake in Peoples Utah Bancorp during the third quarter valued at $182,000. MetLife Investment Advisors LLC bought a new position in Peoples Utah Bancorp during the fourth quarter valued at $212,000. Crewe Advisors LLC bought a new position in Peoples Utah Bancorp during the fourth quarter valued at $303,000. Cardinal Capital Management LLC CT increased its position in Peoples Utah Bancorp by 25.6% during the fourth quarter. Cardinal Capital Management LLC CT now owns 10,783 shares of the bank’s stock valued at $327,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Peoples Utah Bancorp by 15.9% during the third quarter. Wells Fargo & Company MN now owns 14,917 shares of the bank’s stock valued at $408,000 after acquiring an additional 2,047 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.
Peoples Utah Bancorp Company Profile
People’s Utah Bancorp is a bank holding company. As of December 31, 2016, the Company had 18 retail banking locations, two residential mortgage offices and other support facilities operated through its banking subsidiary, People’s Intermountain Bank (PIB or the Bank). The Company provides full-service retail banking in the state of Utah, including a range of banking and related services to locally owned businesses, professional firms, real-estate developers, residential home builders, high net-worth individuals, investors and other customers.
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