Peoples Utah Bancorp (NASDAQ:PUB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Separately, DA Davidson downgraded Peoples Utah Bancorp from a “buy” rating to a “neutral” rating and upped their price target for the stock from $21.00 to $22.00 in a research report on Friday, September 9th.
Peoples Utah Bancorp (NASDAQ:PUB) opened at 19.95 on Wednesday. The stock has a 50 day moving average price of $19.81 and a 200-day moving average price of $17.63. The stock has a market capitalization of $354.23 million, a P/E ratio of 17.14 and a beta of 0.80. Peoples Utah Bancorp has a 1-year low of $14.16 and a 1-year high of $21.28.
Peoples Utah Bancorp (NASDAQ:PUB) last posted its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Peoples Utah Bancorp had a return on equity of 9.85% and a net margin of 24.69%. Equities research analysts expect that Peoples Utah Bancorp will post $1.22 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in PUB. Schwab Charles Investment Management Inc. purchased a new position in Peoples Utah Bancorp during the second quarter valued at about $293,000. Stifel Financial Corp purchased a new position in Peoples Utah Bancorp during the second quarter valued at about $1,245,000. Metropolitan Life Insurance Co. NY purchased a new position in Peoples Utah Bancorp during the second quarter valued at about $172,000. Panagora Asset Management Inc. purchased a new position in Peoples Utah Bancorp during the second quarter valued at about $168,000. Finally, State Street Corp increased its position in Peoples Utah Bancorp by 471.5% in the second quarter. State Street Corp now owns 116,709 shares of the company’s stock valued at $1,939,000 after buying an additional 96,287 shares during the last quarter. 26.16% of the stock is currently owned by hedge funds and other institutional investors.
Peoples Utah Bancorp Company Profile
People’s Utah Bancorp is a bank holding company. The Company has approximately 20 retail banking locations, over 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 various population centers 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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