Brokerages Expect Peoples Utah Bancorp (PUB) Will Post Quarterly Sales of $28.97 Million

Brokerages forecast that Peoples Utah Bancorp (NASDAQ:PUB) will post $28.97 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Peoples Utah Bancorp’s earnings, with the lowest sales estimate coming in at $28.40 million and the highest estimate coming in at $29.30 million. Peoples Utah Bancorp posted sales of $21.92 million in the same quarter last year, which suggests a positive year-over-year growth rate of 32.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Peoples Utah Bancorp will report full year sales of $28.97 million for the current financial year, with estimates ranging from $119.30 million to $120.40 million. For the next fiscal year, analysts anticipate that the company will report sales of $128.73 million per share, with estimates ranging from $128.00 million to $129.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Peoples Utah Bancorp.

Several research analysts have weighed in on PUB shares. BidaskClub upgraded Peoples Utah Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Zacks Investment Research downgraded Peoples Utah Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Raymond James Financial started coverage on Peoples Utah Bancorp in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, ValuEngine downgraded Peoples Utah Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Shares of Peoples Utah Bancorp (PUB) traded down $0.65 during mid-day trading on Wednesday, hitting $31.25. The company’s stock had a trading volume of 41,642 shares, compared to its average volume of 26,117. Peoples Utah Bancorp has a one year low of $24.63 and a one year high of $33.90. The stock has a market cap of $590.53, a P/E ratio of 28.94, a P/E/G ratio of 1.97 and a beta of 0.94.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were paid a $0.09 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.15%. Peoples Utah Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

In related news, CFO Wolfgang T. N. Muelleck sold 6,231 shares of Peoples Utah Bancorp stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $30.07, for a total value of $187,366.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jr. Fred W. Fairclough sold 10,000 shares of Peoples Utah Bancorp stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $30.07, for a total value of $300,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,331 shares of company stock worth $1,568,559. Company insiders own 25.21% of the company’s stock.

Several institutional investors have recently bought and sold shares of PUB. TIAA CREF Investment Management LLC raised its holdings in Peoples Utah Bancorp by 1.6% during the second quarter. TIAA CREF Investment Management LLC now owns 36,302 shares of the bank’s stock worth $973,000 after purchasing an additional 558 shares during the last quarter. Teachers Advisors LLC raised its holdings in Peoples Utah Bancorp by 4.5% during the second quarter. Teachers Advisors LLC now owns 22,703 shares of the bank’s stock worth $608,000 after purchasing an additional 987 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Peoples Utah Bancorp by 10.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,135 shares of the bank’s stock worth $326,000 after purchasing an additional 1,156 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Peoples Utah Bancorp by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 65,801 shares of the bank’s stock worth $2,135,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Peoples Utah Bancorp by 15.9% during the third quarter. Wells Fargo & Company MN now owns 14,917 shares of the bank’s stock worth $408,000 after purchasing an additional 2,047 shares during the last quarter. Hedge funds and other institutional investors own 33.95% 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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