Peoples Utah Bancorp (NASDAQ:PUB) Cut to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Peoples Utah Bancorp (NASDAQ:PUB) from a hold rating to a sell rating in a research report report published on Thursday, 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. “

A number of other research firms have also recently commented on PUB. BidaskClub upgraded shares of Winmark from a sell rating to a hold rating in a research note on Tuesday, May 14th. ValuEngine cut shares of Zuora from a buy rating to a hold rating in a research report on Saturday, June 1st. Sandler O’Neill upgraded shares of Peoples Utah Bancorp from a hold rating to a buy rating in a research report on Thursday, March 28th. Finally, FIG Partners reiterated an outperform rating on shares of Sterling Bancorp in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average price target of $32.00.

NASDAQ PUB opened at $29.62 on Thursday. Peoples Utah Bancorp has a 12 month low of $25.18 and a 12 month high of $36.85. The company has a market cap of $556.92 million, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.63 and a beta of 0.63. The business’s 50 day moving average price is $29.18.

Peoples Utah Bancorp (NASDAQ:PUB) last released its earnings results on Thursday, April 25th. The bank reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Peoples Utah Bancorp had a net margin of 31.96% and a return on equity of 14.62%. The company had revenue of $30.24 million for the quarter, compared to analysts’ expectations of $30.94 million. Sell-side analysts anticipate that Peoples Utah Bancorp will post 2.27 EPS for the current year.

In other news, Director Jr. Fred W. Fairclough sold 1,375 shares of Peoples Utah Bancorp stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $27.95, for a total transaction of $38,431.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 17,875 shares of company stock worth $516,780. Company insiders own 17.34% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Peoples Utah Bancorp in the first quarter worth $121,000. Dimensional Fund Advisors LP increased its position in Peoples Utah Bancorp by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 409,325 shares of the bank’s stock worth $12,341,000 after purchasing an additional 21,376 shares during the last quarter. Rhumbline Advisers increased its position in Peoples Utah Bancorp by 49.4% in the fourth quarter. Rhumbline Advisers now owns 19,774 shares of the bank’s stock worth $596,000 after purchasing an additional 6,537 shares during the last quarter. Legal & General Group Plc increased its position in Peoples Utah Bancorp by 32.6% in the fourth quarter. Legal & General Group Plc now owns 3,387 shares of the bank’s stock worth $102,000 after purchasing an additional 833 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Peoples Utah Bancorp by 107,166.7% in the first quarter. BNP Paribas Arbitrage SA now owns 3,218 shares of the bank’s stock worth $85,000 after purchasing an additional 3,215 shares during the last quarter. Hedge funds and other institutional investors own 37.51% 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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