People’s Utah Bancorp (NASDAQ:PUB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “

PUB has been the topic of a number of other reports. BidaskClub raised shares of People’s Utah Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 13th. ValuEngine downgraded shares of People’s Utah Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd.

People’s Utah Bancorp (NASDAQ:PUB) opened at 31.10 on Wednesday. People’s Utah Bancorp has a 12 month low of $19.25 and a 12 month high of $33.60. The stock has a market capitalization of $558.49 million, a price-to-earnings ratio of 22.06 and a beta of 1.05. The stock’s 50 day moving average is $31.57 and its 200-day moving average is $28.00.

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In related news, CEO Richard T. Beard sold 12,170 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $27.00, for a total transaction of $328,590.00. Following the sale, the chief executive officer now directly owns 117,850 shares of the company’s stock, valued at approximately $3,181,950. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard T. Beard sold 7,709 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $27.02, for a total transaction of $208,297.18. Following the sale, the chief executive officer now directly owns 130,020 shares in the company, valued at $3,513,140.40. The disclosure for this sale can be found here. Insiders sold a total of 192,180 shares of company stock worth $5,269,170 over the last three months. Insiders own 25.21% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PUB. SG Americas Securities LLC purchased a new stake in People’s Utah Bancorp during the 2nd quarter worth approximately $163,000. American International Group Inc. increased its stake in People’s Utah Bancorp by 7.1% during the 1st quarter. American International Group Inc. now owns 8,003 shares of the bank’s stock worth $212,000 after buying an additional 533 shares during the period. Nationwide Fund Advisors increased its stake in People’s Utah Bancorp by 2.8% during the 1st quarter. Nationwide Fund Advisors now owns 8,422 shares of the bank’s stock worth $223,000 after buying an additional 232 shares during the period. California Public Employees Retirement System purchased a new stake in People’s Utah Bancorp during the 1st quarter worth approximately $243,000. Finally, Alliancebernstein L.P. purchased a new stake in People’s Utah Bancorp during the 2nd quarter worth approximately $247,000. 31.00% of the stock is currently owned by hedge funds and other institutional investors.

People’s Utah Bancorp Company 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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