Zacks Investment Research cut shares of People’s Utah Bancorp (NASDAQ:PUB) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “People’s Utah Bancorp is a bank holding company which provides banking products and services primarily in the United States. It offers deposit services, commercial, personal and mortgage loans, mobile and Internet banking services; automatic teller machine services as well as business cash management services. The company serves businesses, professional firms, real estate developers, residential home builders, high net-worth individuals, investors and other customers. People’s Utah Bancorp is headquartered in American Fork, Utah. “

Several other brokerages have also recently issued reports on PUB. ValuEngine cut People’s Utah Bancorp from a buy rating to a hold rating in a report on Monday, October 2nd. BidaskClub raised People’s Utah Bancorp from a hold rating to a buy rating in a report on Thursday, September 21st.

Shares of People’s Utah Bancorp (NASDAQ:PUB) traded down $0.16 during mid-day trading on Wednesday, hitting $31.15. The stock had a trading volume of 17,716 shares, compared to its average volume of 20,828. People’s Utah Bancorp has a 1 year low of $19.25 and a 1 year high of $33.60. The company has a market capitalization of $561.41 and a PE ratio of 21.81.

WARNING: “People’s Utah Bancorp (PUB) Cut to Sell at Zacks Investment Research” was published by Watch List News and is the sole property of of Watch List News. If you are reading this article on another publication, it was stolen and reposted in violation of United States & international copyright laws. The correct version of this article can be viewed at https://www.watchlistnews.com/peoples-utah-bancorp-pub-cut-to-sell-at-zacks-investment-research/1678353.html.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Monday, November 6th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.16%. People’s Utah Bancorp’s dividend payout ratio (DPR) is 25.53%.

In other news, Director Jr. Fred W. Fairclough sold 1,700 shares of People’s Utah Bancorp stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $26.87, for a total value of $45,679.00. Following the sale, the director now directly owns 42,960 shares of the company’s stock, valued at $1,154,335.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard T. Beard sold 25,951 shares of People’s Utah Bancorp stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $27.50, for a total value of $713,652.50. Following the completion of the sale, the chief executive officer now directly owns 137,729 shares in the company, valued at $3,787,547.50. The disclosure for this sale can be found here. Insiders sold 192,180 shares of company stock worth $5,269,170 over the last ninety days. Insiders own 25.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nationwide Fund Advisors increased its stake in People’s Utah Bancorp by 2.8% during the first quarter. Nationwide Fund Advisors now owns 8,422 shares of the bank’s stock worth $223,000 after acquiring an additional 232 shares during the last quarter. American International Group Inc. increased its stake in People’s Utah Bancorp by 7.1% during the first quarter. American International Group Inc. now owns 8,003 shares of the bank’s stock worth $212,000 after acquiring an additional 533 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in People’s 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 acquiring an additional 558 shares during the last quarter. Rhumbline Advisers increased its stake in People’s Utah Bancorp by 6.5% during the second quarter. Rhumbline Advisers now owns 15,041 shares of the bank’s stock worth $403,000 after acquiring an additional 915 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in People’s 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 acquiring an additional 987 shares during the last quarter. 31.00% of the stock is currently owned by institutional investors.

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.

Get a free copy of the Zacks research report on People’s Utah Bancorp (PUB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for People's Utah Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for People's Utah Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.