Zacks Investment Research upgraded shares of Peoples Utah Bancorp (NASDAQ:PUB) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $23.00 price target 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 analysts have also weighed in on PUB. Raymond James raised Peoples Utah Bancorp from a market perform rating to an outperform rating and set a $24.00 price objective for the company in a research note on Wednesday, June 17th. BidaskClub raised shares of Peoples Utah Bancorp from a sell rating to a hold rating in a report on Thursday, April 30th. Finally, ValuEngine lowered Peoples Utah Bancorp from a hold rating to a sell rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $23.50.
Peoples Utah Bancorp (NASDAQ:PUB) last released its earnings results on Wednesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, beating 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 return on equity of 13.64% and a net margin of 33.06%. As a group, analysts predict that Peoples Utah Bancorp will post 2.03 earnings per share for the current year.
In related news, Director Jr. Fred W. Fairclough sold 3,750 shares of Peoples Utah Bancorp stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $18.10, for a total transaction of $67,875.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Rick W. Anderson sold 3,900 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $23.63, for a total value of $92,157.00. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock worth $1,010,907 in the last ninety days. Insiders own 16.17% of the company’s stock.
Several institutional investors have recently modified their holdings of PUB. Soltis Investment Advisors LLC bought a new stake in shares of Peoples Utah Bancorp in the 4th quarter worth approximately $8,113,000. Wellington Management Group LLP boosted its holdings in Peoples Utah Bancorp by 64.7% in the first quarter. Wellington Management Group LLP now owns 565,472 shares of the bank’s stock worth $10,952,000 after acquiring an additional 222,134 shares in the last quarter. Davis Capital Partners LLC grew its stake in shares of Peoples Utah Bancorp by 7.0% in the first quarter. Davis Capital Partners LLC now owns 802,600 shares of the bank’s stock worth $15,546,000 after acquiring an additional 52,600 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Peoples Utah Bancorp by 23.4% in the 4th quarter. Renaissance Technologies LLC now owns 236,240 shares of the bank’s stock worth $7,116,000 after purchasing an additional 44,840 shares during the last quarter. Finally, BEAM Asset Management LLC purchased a new position in shares of Peoples Utah Bancorp in the 4th quarter worth about $1,203,000. 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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