Bank of New York Mellon Corp raised its stake in shares of People’s Utah Bancorp (NASDAQ:PUB) by 13.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,309 shares of the bank’s stock after buying an additional 6,884 shares during the period. Bank of New York Mellon Corp owned about 0.31% of People’s Utah Bancorp worth $1,489,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. First Trust Advisors LP raised its position in shares of People’s Utah Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 32,843 shares of the bank’s stock valued at $869,000 after buying an additional 2,823 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of People’s Utah Bancorp during the first quarter valued at about $5,708,000. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of People’s Utah Bancorp by 96.8% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 25,201 shares of the bank’s stock valued at $667,000 after buying an additional 12,393 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of People’s Utah Bancorp by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 83,880 shares of the bank’s stock valued at $2,219,000 after buying an additional 11,076 shares in the last quarter. Finally, Northpointe Capital LLC raised its position in shares of People’s Utah Bancorp by 8.5% in the first quarter. Northpointe Capital LLC now owns 111,598 shares of the bank’s stock valued at $2,952,000 after buying an additional 8,753 shares in the last quarter. Institutional investors and hedge funds own 28.98% of the company’s stock.
People’s Utah Bancorp (PUB) traded up 1.12% during trading on Friday, reaching $27.00. The company’s stock had a trading volume of 24,381 shares. People’s Utah Bancorp has a 12 month low of $18.49 and a 12 month high of $29.35. The stock has a market cap of $484.87 million, a PE ratio of 19.15 and a beta of 0.97. The company’s 50-day moving average is $27.24 and its 200-day moving average is $26.45.
People’s Utah Bancorp (NASDAQ:PUB) last released its quarterly earnings data on Friday, July 28th. The bank reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $23.33 million during the quarter, compared to the consensus estimate of $22.80 million. People’s Utah Bancorp had a return on equity of 11.13% and a net margin of 27.79%. Equities analysts expect that People’s Utah Bancorp will post $1.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a dividend of $0.09 per share. This is a boost from People’s Utah Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.33%. People’s Utah Bancorp’s payout ratio is presently 25.53%.
A number of equities analysts have weighed in on the company. BidaskClub raised People’s Utah Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. TheStreet raised People’s Utah Bancorp from a “c” rating to a “b-” rating in a research report on Monday, June 12th. ValuEngine raised People’s Utah Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised People’s Utah Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Saturday, April 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.00.
In related news, CEO Richard T. Beard sold 25,951 shares of People’s Utah Bancorp stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $27.50, for a total transaction of $713,652.50. Following the transaction, the chief executive officer now owns 137,729 shares of the company’s stock, valued at $3,787,547.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.21% of the stock is owned by insiders.
People’s 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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