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 issued to investors 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. “

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

PUB stock traded down $0.11 during midday trading on Friday, reaching $29.77. The company had a trading volume of 18,600 shares, compared to its average volume of 29,915. The firm has a market capitalization of $563.88 million, a PE ratio of 13.91 and a beta of 0.69. Peoples Utah Bancorp has a fifty-two week low of $25.18 and a fifty-two week high of $33.94. The stock has a 50 day moving average price of $28.81 and a 200 day moving average price of $28.69.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, November 1st. Peoples Utah Bancorp’s dividend payout ratio (DPR) is currently 24.30%.

In other Peoples Utah Bancorp news, Director Jr. Fred W. Fairclough sold 1,375 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $27.92, for a total transaction of $38,390.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Glen Anderson sold 16,389 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $27.02, for a total transaction of $442,830.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,384 shares of company stock worth $1,682,613. Company insiders own 17.34% of the company’s stock.

A number of large investors have recently made changes to their positions in PUB. Marshall Wace LLP acquired a new position in shares of Peoples Utah Bancorp in the first quarter worth $80,000. Marshall Wace North America L.P. bought a new stake in Peoples Utah Bancorp during the first quarter valued at about $58,000. Bessemer Group Inc. bought a new stake in Peoples Utah Bancorp during the second quarter valued at about $379,000. AE Wealth Management LLC bought a new stake in Peoples Utah Bancorp during the second quarter valued at about $570,000. Finally, Dupont Capital Management Corp bought a new stake in Peoples Utah Bancorp during the second quarter valued at about $495,000. 36.96% of the stock is currently owned by institutional investors.

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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