James Investment Research Inc. decreased its position in shares of People’s Utah Bancorp (NASDAQ:PUB) by 26.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,005 shares of the bank’s stock after selling 30,160 shares during the period. James Investment Research Inc. owned 0.47% of People’s Utah Bancorp worth $2,251,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Globeflex Capital L P acquired a new stake in People’s Utah Bancorp during the first quarter worth about $117,000. American International Group Inc. raised its stake in People’s Utah Bancorp by 7.1% in the first 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 last quarter. Nationwide Fund Advisors raised its stake in People’s Utah Bancorp by 2.8% in the first 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 last quarter. California Public Employees Retirement System acquired a new stake in People’s Utah Bancorp during the first quarter worth about $243,000. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in People’s Utah Bancorp by 84.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 10,726 shares of the bank’s stock worth $282,000 after buying an additional 4,926 shares during the last quarter. 29.68% of the stock is owned by hedge funds and other institutional investors.
People’s Utah Bancorp (PUB) traded up 0.36% on Friday, hitting $27.60. 23,915 shares of the stock were exchanged. People’s Utah Bancorp has a 1-year low of $18.25 and a 1-year high of $29.35. The company has a 50-day moving average price of $27.16 and a 200 day moving average price of $26.38. The company has a market capitalization of $495.64 million, a PE ratio of 19.57 and a beta of 0.97.
People’s Utah Bancorp (NASDAQ:PUB) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $23.33 million for the quarter, compared to analyst estimates of $22.80 million. People’s Utah Bancorp had a net margin of 27.79% and a return on equity of 11.13%. Analysts anticipate that People’s Utah Bancorp will post $1.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be given a dividend of $0.09 per share. This is a positive change from People’s Utah Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, August 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.30%. People’s Utah Bancorp’s dividend payout ratio (DPR) is currently 25.53%.
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PUB has been the subject of several recent research reports. BidaskClub upgraded People’s Utah Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded People’s Utah Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Saturday, April 29th. ValuEngine raised People’s Utah Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, TheStreet raised People’s Utah Bancorp from a “c” rating to a “b-” rating in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $26.00.
About People’s 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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