Zacks Investment Research lowered shares of People’s Utah Bancorp (NASDAQ:PUB) from a strong-buy rating to a hold rating in a report issued on Thursday 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. BidaskClub raised People’s Utah Bancorp from a strong sell rating to a sell rating in a report on Thursday, July 13th. TheStreet raised People’s Utah Bancorp from a c rating to a b- rating in a research note on Monday, June 12th. Finally, ValuEngine raised People’s Utah Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd.

Shares of People’s Utah Bancorp (NASDAQ PUB) opened at 32.45 on Thursday. The stock has a market cap of $582.74 million, a PE ratio of 23.01 and a beta of 1.04. People’s Utah Bancorp has a 52-week low of $18.49 and a 52-week high of $33.60. The stock’s 50 day moving average is $28.63 and its 200 day moving average is $28.63.

People’s Utah Bancorp (NASDAQ:PUB) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. People’s Utah Bancorp had a return on equity of 11.13% and a net margin of 27.79%. The business had revenue of $23.33 million during the quarter, compared to the consensus estimate of $22.80 million. Equities research analysts forecast that People’s Utah Bancorp will post $1.46 earnings per share for the current year.

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In related news, Director Jr. Fred W. Fairclough sold 45,115 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $27.02, for a total value of $1,219,007.30. 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 company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $31.32, for a total transaction of $62,640.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,780 shares of company stock valued at $5,029,228. 25.21% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System purchased a new position in shares of People’s Utah Bancorp in the 1st quarter worth $243,000. Bank of New York Mellon Corp increased its holdings in shares of People’s Utah Bancorp by 13.9% in the 1st quarter. Bank of New York Mellon Corp now owns 56,309 shares of the bank’s stock worth $1,489,000 after buying an additional 6,884 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of People’s Utah Bancorp by 84.9% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 10,726 shares of the bank’s stock worth $282,000 after buying an additional 4,926 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of People’s Utah Bancorp by 9.4% in the 1st quarter. First Trust Advisors LP now owns 32,843 shares of the bank’s stock worth $869,000 after buying an additional 2,823 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of People’s Utah Bancorp by 4.4% in the 1st 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. Institutional investors and hedge funds own 31.14% of the company’s stock.

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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