ValuEngine Upgrades People’s Utah Bancorp (PUB) to “Buy”

ValuEngine upgraded shares of People’s Utah Bancorp (NASDAQ:PUB) from a hold rating to a buy rating in a research report released on Tuesday morning.

Several other analysts have also recently weighed in on the company. BidaskClub raised People’s Utah Bancorp from a sell rating to a hold rating in a research report on Tuesday. Zacks Investment Research raised People’s Utah Bancorp from a hold rating to a buy rating and set a $36.00 price objective on the stock in a research report on Tuesday, May 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $35.50.

People’s Utah Bancorp opened at $36.20 on Tuesday, Marketbeat Ratings reports. The company has a market cap of $658.45 million, a price-to-earnings ratio of 23.66, a PEG ratio of 2.15 and a beta of 0.87. People’s Utah Bancorp has a fifty-two week low of $24.63 and a fifty-two week high of $35.95.

People’s Utah Bancorp (NASDAQ:PUB) last posted its quarterly earnings data on Wednesday, April 25th. The bank reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $30.27 million for the quarter, compared to analysts’ expectations of $28.97 million. People’s Utah Bancorp had a return on equity of 12.18% and a net margin of 20.37%. equities research analysts anticipate that People’s Utah Bancorp will post 2.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Monday, May 7th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.10%. This is a positive change from People’s Utah Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, May 4th. People’s Utah Bancorp’s dividend payout ratio (DPR) is presently 26.14%.

In other news, Director Jr. Fred W. Fairclough sold 1,700 shares of People’s Utah Bancorp stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $31.65, for a total transaction of $53,805.00. Following the completion of the transaction, the director now directly owns 61,276 shares in the company, valued at $1,939,385.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jr. Fred W. Fairclough sold 2,000 shares of People’s Utah Bancorp stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $34.99, for a total transaction of $69,980.00. The disclosure for this sale can be found here. Insiders have sold 28,907 shares of company stock valued at $930,571 over the last quarter. Company insiders own 18.33% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new position in shares of People’s Utah Bancorp during the first quarter valued at approximately $206,000. MetLife Investment Advisors LLC purchased a new position in shares of People’s Utah Bancorp during the fourth quarter valued at approximately $212,000. Prudential Financial Inc. purchased a new position in shares of People’s Utah Bancorp during the first quarter valued at approximately $241,000. Crewe Advisors LLC purchased a new position in shares of People’s Utah Bancorp during the fourth quarter valued at approximately $303,000. Finally, Cardinal Capital Management LLC CT lifted its holdings in shares of People’s 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 purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 36.50% of the company’s stock.

About People’s 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for People's Utah Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's Utah Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply