Peoples Utah Bancorp (NASDAQ:PUB) Raised 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 report published on Friday morning, 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. “

PUB has been the topic of several other research reports. ValuEngine downgraded shares of Zuora from a buy rating to a hold rating in a research report on Saturday, June 1st. Sandler O’Neill raised shares of Peoples Utah Bancorp from a hold rating to a buy rating in a research report on Thursday, March 28th. BidaskClub raised shares of Winmark from a sell rating to a hold rating in a research report on Tuesday, May 14th. Finally, FIG Partners reissued an outperform rating on shares of Sterling Bancorp in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $32.00.

NASDAQ:PUB opened at $28.69 on Friday. Peoples Utah Bancorp has a one year low of $25.18 and a one year high of $36.85. The company has a market cap of $539.42 million, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.58 and a beta of 0.63. The firm has a 50-day simple moving average of $29.12.

Peoples Utah Bancorp (NASDAQ:PUB) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $30.24 million during the quarter, compared to analyst estimates of $30.94 million. Peoples Utah Bancorp had a net margin of 31.96% and a return on equity of 14.62%. As a group, analysts expect that Peoples Utah Bancorp will post 2.27 earnings per share for the current fiscal year.

In other news, Director Jr. Fred W. Fairclough sold 1,375 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $28.28, for a total value of $38,885.00. Following the sale, the director now directly owns 20,786 shares of the company’s stock, valued at approximately $587,828.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 17,875 shares of company stock worth $517,344 over the last ninety days. Insiders own 17.34% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new stake in Peoples Utah Bancorp during the second quarter worth $379,000. Marshall Wace North America L.P. acquired a new position in Peoples Utah Bancorp during the first quarter worth $58,000. Marshall Wace LLP acquired a new position in Peoples Utah Bancorp during the first quarter worth $80,000. Globeflex Capital L P raised its position in Peoples Utah Bancorp by 23.7% during the first quarter. Globeflex Capital L P now owns 18,796 shares of the bank’s stock worth $496,000 after acquiring an additional 3,596 shares during the period. Finally, Crewe Advisors LLC acquired a new position in Peoples Utah Bancorp during the first quarter worth $53,000. 37.51% of the stock is currently owned by institutional investors and hedge funds.

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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