Equities research analysts expect Peoples Utah Bancorp (NASDAQ:PUB) to post sales of $28.97 million for the current quarter, Zacks reports. Three analysts have made estimates for Peoples Utah Bancorp’s earnings, with the highest sales estimate coming in at $29.30 million and the lowest estimate coming in at $28.40 million. Peoples Utah Bancorp posted sales of $21.92 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that Peoples Utah Bancorp will report full-year sales of $28.97 million for the current year, with estimates ranging from $119.30 million to $120.40 million. For the next financial year, analysts expect that the company will post sales of $128.73 million per share, with estimates ranging from $128.00 million to $129.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Peoples Utah Bancorp.
PUB has been the subject of a number of recent analyst reports. Zacks Investment Research cut Peoples Utah Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. BidaskClub cut Peoples Utah Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. ValuEngine cut Peoples Utah Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, 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 for the company. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Peoples Utah Bancorp currently has an average rating of “Hold” and a consensus price target of $35.00.
The company also recently announced a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, February 2nd. Peoples Utah Bancorp’s dividend payout ratio is 33.33%.
In related news, Director Jr. Fred W. Fairclough sold 1,700 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $30.45, for a total transaction of $51,765.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wolfgang T. N. Muelleck sold 18,769 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $30.60, for a total value of $574,331.40. The disclosure for this sale can be found here. Insiders sold a total of 68,100 shares of company stock valued at $2,081,131 over the last quarter. Company insiders own 25.21% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PUB. Macquarie Group Ltd. purchased a new stake in shares of Peoples Utah Bancorp during the 3rd quarter worth $182,000. Alliancebernstein L.P. purchased a new stake in shares of Peoples Utah Bancorp during the 2nd quarter worth $247,000. OxFORD Asset Management LLP purchased a new stake in shares of Peoples Utah Bancorp during the 2nd quarter worth $264,000. Crewe Advisors LLC purchased a new stake in shares of Peoples Utah Bancorp during the 4th quarter worth $303,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Peoples Utah Bancorp by 10.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,135 shares of the bank’s stock worth $326,000 after purchasing an additional 1,156 shares during the last quarter. Hedge funds and other institutional investors own 33.95% of the company’s stock.
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Peoples 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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