Zacks: Brokerages Set $36.50 Target Price for Peoples Utah Bancorp (PUB)

Peoples Utah Bancorp (NASDAQ:PUB) has received a consensus broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating. Peoples Utah Bancorp’s rating score has declined by 12.4% in the last 90 days as a result of various analysts’ ratings changes.

Analysts have set a 1 year consensus price objective of $36.50 for the company and are predicting that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Peoples Utah Bancorp an industry rank of 94 out of 255 based on the ratings given to its competitors.

Several equities research analysts have weighed in on PUB shares. BidaskClub upgraded shares of Peoples Utah Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, May 22nd. ValuEngine upgraded shares of Peoples Utah Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research lowered shares of Peoples Utah Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, Raymond James lowered shares of Peoples Utah Bancorp from an “outperform” rating to a “market perform” rating in a report on Thursday, August 2nd.

PUB traded up $0.50 during mid-day trading on Monday, hitting $35.45. The stock had a trading volume of 14,851 shares, compared to its average volume of 21,313. The firm has a market cap of $659.38 million, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.09 and a beta of 0.87. Peoples Utah Bancorp has a 1-year low of $27.65 and a 1-year high of $38.70.

Peoples Utah Bancorp (NASDAQ:PUB) last posted its earnings results on Thursday, July 26th. The bank reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The company had revenue of $31.04 million for the quarter, compared to analyst estimates of $30.79 million. Peoples Utah Bancorp had a net margin of 22.22% and a return on equity of 13.24%. research analysts forecast that Peoples Utah Bancorp will post 2.11 earnings per share for the current fiscal year.

In related news, Director Jr. Fred W. Fairclough sold 1,700 shares of the firm’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $36.71, for a total transaction of $62,407.00. Following the sale, the director now directly owns 47,676 shares in the company, valued at $1,750,185.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jr. Fred W. Fairclough sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $36.22, for a total transaction of $72,440.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,800 shares of company stock worth $533,116. 18.33% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its position in Peoples Utah Bancorp by 33.3% in the second quarter. Millennium Management LLC now owns 17,086 shares of the bank’s stock valued at $610,000 after purchasing an additional 4,268 shares in the last quarter. Davis Capital Partners LLC grew its position in Peoples Utah Bancorp by 1.2% in the second quarter. Davis Capital Partners LLC now owns 750,000 shares of the bank’s stock valued at $26,775,000 after purchasing an additional 8,764 shares in the last quarter. Renaissance Technologies LLC grew its position in Peoples Utah Bancorp by 13.0% in the second quarter. Renaissance Technologies LLC now owns 152,200 shares of the bank’s stock valued at $5,434,000 after purchasing an additional 17,500 shares in the last quarter. Citadel Advisors LLC bought a new position in Peoples Utah Bancorp in the second quarter valued at $254,000. Finally, Globeflex Capital L P grew its position in Peoples Utah Bancorp by 17.9% in the second quarter. Globeflex Capital L P now owns 14,500 shares of the bank’s stock valued at $518,000 after purchasing an additional 2,200 shares in the last quarter. 38.71% of the stock is owned by institutional investors and hedge funds.

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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