Peoples Utah Bancorp (PUB) Lowered to Sell at BidaskClub

Peoples Utah Bancorp (NASDAQ:PUB) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

PUB has been the topic of several other research reports. Zacks Investment Research raised shares of Peoples Utah Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded shares of Peoples Utah Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st.

Shares of Peoples Utah Bancorp (NASDAQ:PUB) traded up $0.15 during trading hours on Wednesday, reaching $30.50. 18,213 shares of the company’s stock traded hands, compared to its average volume of 25,983. Peoples Utah Bancorp has a twelve month low of $23.95 and a twelve month high of $33.60. The stock has a market capitalization of $556.09, a P/E ratio of 21.63, a P/E/G ratio of 2.69 and a beta of 0.98.

In related news, Director Jr. Fred W. Fairclough sold 1,700 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $32.19, for a total value of $54,723.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jr. Fred W. Fairclough sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $32.89, for a total transaction of $65,780.00. The disclosure for this sale can be found here. Insiders sold 70,100 shares of company stock worth $2,156,826 in the last three months. Insiders own 25.21% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. John W. Rosenthal Capital Management Inc. bought a new position in Peoples Utah Bancorp during the third quarter valued at $2,596,000. California Public Employees Retirement System bought a new position in Peoples Utah Bancorp during the first quarter valued at $243,000. State Street Corp increased its position in Peoples Utah Bancorp by 14.4% during the second quarter. State Street Corp now owns 225,316 shares of the bank’s stock valued at $6,036,000 after acquiring an additional 28,411 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Peoples Utah Bancorp by 40.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 24,800 shares of the bank’s stock valued at $665,000 after acquiring an additional 7,200 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Peoples Utah Bancorp by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 64,126 shares of the bank’s stock valued at $1,719,000 after acquiring an additional 7,817 shares during the last quarter. Institutional investors own 31.82% of the company’s stock.

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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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