Brokerages forecast that People’s Utah Bancorp (NASDAQ:PUB) will post $23.46 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for People’s Utah Bancorp’s earnings, with the lowest sales estimate coming in at $23.42 million and the highest estimate coming in at $23.50 million. People’s Utah Bancorp posted sales of $22.02 million in the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The business is scheduled to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that People’s Utah Bancorp will report full-year sales of $23.46 million for the current year, with estimates ranging from $95.20 million to $95.47 million. For the next year, analysts forecast that the business will report sales of $117.85 million per share, with estimates ranging from $116.60 million to $119.09 million. Zacks’ sales calculations are an average based on a survey of analysts that cover People’s Utah Bancorp.
People’s Utah Bancorp (NASDAQ:PUB) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. People’s Utah Bancorp had a return on equity of 11.25% and a net margin of 27.79%. The firm had revenue of $23.33 million for the quarter, compared to analyst estimates of $22.80 million.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded People’s Utah Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday. ValuEngine upgraded People’s Utah Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded People’s Utah Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Saturday, April 29th. Finally, TheStreet upgraded People’s Utah Bancorp from a “c” rating to a “b-” rating in a research report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.00.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in People’s Utah Bancorp by 4.4% in the first quarter. Vanguard Group Inc. now owns 551,233 shares of the bank’s stock worth $14,580,000 after buying an additional 23,437 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in People’s Utah Bancorp during the first quarter worth approximately $5,708,000. State Street Corp boosted its position in People’s Utah Bancorp by 12.3% in the fourth quarter. State Street Corp now owns 195,875 shares of the bank’s stock worth $5,259,000 after buying an additional 21,418 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in People’s Utah Bancorp by 2.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 148,761 shares of the bank’s stock worth $3,935,000 after buying an additional 2,936 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in People’s Utah Bancorp by 3.5% in the first quarter. Geode Capital Management LLC now owns 132,165 shares of the bank’s stock worth $3,495,000 after buying an additional 4,494 shares during the last quarter. Institutional investors own 29.75% of the company’s stock.
Shares of People’s Utah Bancorp (PUB) traded up 0.18% during trading on Friday, reaching $28.10. The company’s stock had a trading volume of 12,233 shares. The stock has a market cap of $504.34 million, a price-to-earnings ratio of 19.93 and a beta of 0.97. The stock’s 50 day moving average price is $26.99 and its 200-day moving average price is $26.27. People’s Utah Bancorp has a 52-week low of $17.75 and a 52-week high of $29.35.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, August 3rd. This is a boost from People’s Utah Bancorp’s previous quarterly dividend of $0.08. People’s Utah Bancorp’s dividend payout ratio (DPR) is presently 22.70%.
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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