Zacks: Peoples Utah Bancorp (PUB) Given $34.00 Average Target Price by Analysts

Shares of Peoples Utah Bancorp (NASDAQ:PUB) have been assigned an average broker rating score of 2.67 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. Peoples Utah Bancorp’s rating score has improved by 11% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1-year consensus price target of $34.00 for the company and are expecting that the company will post $0.48 EPS for the current quarter, according to Zacks. Zacks has also given Peoples Utah Bancorp an industry rank of 18 out of 265 based on the ratings given to related companies.

A number of equities research analysts have weighed in on the company. BidaskClub raised Peoples Utah Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial assumed coverage on Peoples Utah Bancorp in a report on Wednesday, January 17th. They set an “outperform” rating and a $35.00 price objective on the stock. Zacks Investment Research downgraded Peoples Utah Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Finally, ValuEngine cut shares of Peoples Utah Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

In other news, CFO Wolfgang T. N. Muelleck sold 18,769 shares of Peoples Utah Bancorp stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $30.60, for a total value of $574,331.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jr. Fred W. Fairclough sold 1,700 shares of Peoples Utah Bancorp stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $32.26, for a total transaction of $54,842.00. Following the completion of the transaction, the director now owns 72,376 shares of the company’s stock, valued at approximately $2,334,849.76. The disclosure for this sale can be found here. Insiders sold 69,800 shares of company stock valued at $2,132,794 in the last quarter. 25.21% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Peoples Utah Bancorp by 3.7% in the 4th quarter. BlackRock Inc. now owns 691,658 shares of the bank’s stock worth $20,957,000 after purchasing an additional 24,847 shares during the last quarter. Vanguard Group Inc. raised its position in Peoples Utah Bancorp by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 566,888 shares of the bank’s stock worth $15,193,000 after purchasing an additional 15,655 shares during the last quarter. Davis Capital Partners LLC raised its position in Peoples Utah Bancorp by 68.7% in the 3rd quarter. Davis Capital Partners LLC now owns 411,307 shares of the bank’s stock worth $13,346,000 after purchasing an additional 167,536 shares during the last quarter. Wasatch Advisors Inc. raised its position in Peoples Utah Bancorp by 5.2% in the 3rd quarter. Wasatch Advisors Inc. now owns 250,954 shares of the bank’s stock worth $8,143,000 after purchasing an additional 12,324 shares during the last quarter. Finally, State Street Corp raised its position in Peoples Utah Bancorp by 14.4% in the 2nd quarter. State Street Corp now owns 225,316 shares of the bank’s stock worth $6,036,000 after purchasing an additional 28,411 shares during the last quarter. Institutional investors own 30.79% of the company’s stock.

Peoples Utah Bancorp (PUB) traded up $0.30 during midday trading on Friday, reaching $30.40. The company’s stock had a trading volume of 43,179 shares, compared to its average volume of 22,337. The firm has a market capitalization of $557.21, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94. Peoples Utah Bancorp has a 12 month low of $24.63 and a 12 month high of $33.90.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Monday, February 5th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, February 2nd. Peoples Utah Bancorp’s dividend payout ratio (DPR) is currently 33.33%.

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About Peoples Utah Bancorp

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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