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

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

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

Shares of 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 price-to-earnings ratio of 13.46, a PEG ratio of 1.63 and a beta of 0.63. The stock has a fifty day moving average of $29.18.

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

In related news, Director Jr. Fred W. Fairclough sold 1,375 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $27.84, for a total value of $38,280.00. Following the completion of the transaction, the director now directly owns 22,161 shares in the company, valued at approximately $616,962.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 17,875 shares of company stock valued at $516,780. 17.34% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. bought a new stake in Peoples Utah Bancorp during the 4th quarter valued at about $45,000. Crewe Advisors LLC bought a new stake in Peoples Utah Bancorp during the 1st quarter valued at about $53,000. Marshall Wace North America L.P. bought a new stake in Peoples Utah Bancorp during the 1st quarter valued at about $58,000. Marshall Wace LLP bought a new stake in Peoples Utah Bancorp during the 1st quarter valued at about $80,000. Finally, BNP Paribas Arbitrage SA increased its stake in Peoples Utah Bancorp by 107,166.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,218 shares of the bank’s stock valued at $85,000 after purchasing an additional 3,215 shares in the last quarter. Institutional investors and hedge funds own 37.51% of the company’s stock.

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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