People’s Utah Bancorp (PUB) Position Decreased by Spark Investment Management LLC

Spark Investment Management LLC decreased its stake in shares of People’s Utah Bancorp (NASDAQ:PUB) by 9.8% during the second quarter, Holdings Channel reports. The institutional investor owned 26,700 shares of the bank’s stock after selling 2,900 shares during the period. Spark Investment Management LLC’s holdings in People’s Utah Bancorp were worth $715,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Nationwide Fund Advisors increased its stake in shares of People’s Utah Bancorp by 2.8% in the first quarter. Nationwide Fund Advisors now owns 8,422 shares of the bank’s stock valued at $223,000 after buying an additional 232 shares in the last quarter. James Investment Research Inc. increased its stake in shares of People’s Utah Bancorp by 0.4% in the first quarter. James Investment Research Inc. now owns 114,165 shares of the bank’s stock valued at $3,020,000 after buying an additional 430 shares in the last quarter. American International Group Inc. increased its stake in shares of 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 valued at $212,000 after buying an additional 533 shares in the last quarter. Context BH Capital Management LP increased its stake in shares of People’s Utah Bancorp by 2.7% in the first quarter. Context BH Capital Management LP now owns 52,283 shares of the bank’s stock valued at $1,383,000 after buying an additional 1,363 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of People’s Utah Bancorp by 2.7% in the second quarter. Russell Investments Group Ltd. now owns 86,160 shares of the bank’s stock valued at $2,310,000 after buying an additional 2,280 shares in the last quarter. Institutional investors own 29.68% of the company’s stock.

People’s Utah Bancorp (PUB) opened at 27.60 on Friday. 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 $27.20 and a 200-day moving average price of $26.40. The firm has a market capitalization of $495.64 million, a P/E ratio of 19.57 and a beta of 0.97.

People’s Utah Bancorp (NASDAQ:PUB) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. People’s Utah Bancorp had a net margin of 27.79% and a return on equity of 11.13%. The company had revenue of $23.33 million for the quarter, compared to the consensus estimate of $22.80 million. On average, equities research analysts predict that People’s Utah Bancorp will post $1.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.09 per share. This is an increase 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 payout ratio is presently 25.53%.

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Several brokerages have recently weighed in on PUB. BidaskClub upgraded People’s Utah Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 13th. TheStreet upgraded People’s Utah Bancorp from a “c” rating to a “b-” rating in a research note on Monday, June 12th. Zacks Investment Research upgraded People’s Utah Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Saturday, April 29th. Finally, ValuEngine upgraded People’s Utah Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. People’s Utah Bancorp presently has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for People`s Utah Bancorp (NASDAQ:PUB)

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