Spark Investment Management LLC lessened its holdings in Peoples Utah Bancorp (NASDAQ:PUB) by 50.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the bank’s stock after selling 12,400 shares during the quarter. Spark Investment Management LLC owned approximately 0.06% of Peoples Utah Bancorp worth $363,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pacific Ridge Capital Partners LLC grew its stake in shares of Peoples Utah Bancorp by 3.3% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 135,641 shares of the bank’s stock valued at $4,110,000 after buying an additional 4,370 shares in the last quarter. Crewe Advisors LLC bought a new position in Peoples Utah Bancorp during the fourth quarter worth $303,000. BlackRock Inc. boosted its position in Peoples Utah Bancorp by 3.7% during the fourth quarter. BlackRock Inc. now owns 691,658 shares of the bank’s stock worth $20,957,000 after purchasing an additional 24,847 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Peoples Utah Bancorp by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 75,371 shares of the bank’s stock worth $2,284,000 after buying an additional 9,570 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Peoples Utah Bancorp by 38.9% during the fourth quarter. Wells Fargo & Company MN now owns 20,718 shares of the bank’s stock worth $627,000 after buying an additional 5,801 shares in the last quarter. 34.94% of the stock is currently owned by institutional investors.
Peoples Utah Bancorp (NASDAQ PUB) traded down $0.50 during trading on Wednesday, hitting $32.45. The company’s stock had a trading volume of 53,736 shares, compared to its average volume of 26,554. The company has a market cap of $611.36, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. Peoples Utah Bancorp has a 52-week low of $24.63 and a 52-week high of $33.90.
Peoples Utah Bancorp (NASDAQ:PUB) last issued its earnings results on Wednesday, January 24th. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The company had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.39 million. Peoples Utah Bancorp had a return on equity of 11.67% and a net margin of 19.74%. sell-side analysts anticipate that Peoples Utah Bancorp will post 2.02 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.36 annualized dividend and a dividend yield of 1.11%. Peoples Utah Bancorp’s payout ratio is 33.33%.
A number of equities research analysts have recently weighed in on PUB shares. BidaskClub raised Peoples Utah Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Zacks Investment Research raised Peoples Utah Bancorp from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research note on Wednesday, December 27th. ValuEngine downgraded Peoples Utah Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Raymond James Financial started coverage on Peoples Utah Bancorp in a research note on Wednesday, January 17th. They set an “outperform” rating and a $35.00 target price for the company. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Peoples Utah Bancorp currently has an average rating of “Hold” and a consensus target price of $35.00.
In related news, Director Jr. Fred W. Fairclough sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $30.17, for a total transaction of $60,340.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jr. Fred W. Fairclough sold 1,700 shares of Peoples Utah Bancorp stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $30.14, for a total value of $51,238.00. Following the completion of the transaction, the director now directly owns 75,776 shares in the company, valued at $2,283,888.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,200 shares of company stock valued at $624,891. 25.21% of the stock is owned by corporate insiders.
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Peoples Utah Bancorp 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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