BlackRock Inc. boosted its position in People’s Utah Bancorp (NASDAQ:PUB) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 691,658 shares of the bank’s stock after purchasing an additional 24,847 shares during the quarter. BlackRock Inc.’s holdings in People’s Utah Bancorp were worth $20,957,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new stake in shares of People’s Utah Bancorp in the third quarter worth $182,000. Wells Fargo & Company MN grew its stake in shares of People’s Utah Bancorp by 15.9% in the third quarter. Wells Fargo & Company MN now owns 14,917 shares of the bank’s stock worth $408,000 after acquiring an additional 2,047 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of People’s Utah Bancorp by 48.5% in the third quarter. New York State Common Retirement Fund now owns 19,899 shares of the bank’s stock worth $646,000 after acquiring an additional 6,499 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of People’s Utah Bancorp by 21.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 30,181 shares of the bank’s stock worth $915,000 after acquiring an additional 5,381 shares during the last quarter. Finally, Keeler Thomas Management LLC purchased a new stake in shares of People’s Utah Bancorp in the fourth quarter worth $1,217,000. Institutional investors and hedge funds own 34.52% of the company’s stock.
NASDAQ PUB opened at $31.95 on Tuesday. People’s Utah Bancorp has a 12 month low of $24.63 and a 12 month high of $33.90. The firm has a market capitalization of $589.17, a PE ratio of 20.88, a P/E/G ratio of 1.95 and a beta of 0.86.
In related news, insider Rick W. Anderson sold 4,707 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $32.57, for a total transaction of $153,306.99. Following the sale, the insider now directly owns 9,293 shares of the company’s stock, valued at $302,673.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jr. Fred W. Fairclough sold 2,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $31.70, for a total value of $63,400.00. The disclosure for this sale can be found here. Insiders have sold 26,907 shares of company stock worth $851,090 over the last ninety days. 18.33% of the stock is currently owned by insiders.
PUB has been the topic of a number of recent research reports. BidaskClub cut People’s Utah Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research raised People’s Utah Bancorp from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research note on Wednesday, December 27th. Finally, Raymond James Financial initiated coverage on People’s Utah Bancorp in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. People’s Utah Bancorp presently has an average rating of “Hold” and a consensus price target of $35.00.
About People’s Utah Bancorp
People's Utah Bancorp operates as the bank holding company for People's Intermountain Bank that provides retail and commercial banking products and services. The company accepts various deposits, such as checking, rewards checking, savings, and money market deposit accounts, as well as individual retirement accounts and certificates of deposit.
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