JPMorgan Chase & Co. cut its stake in shares of People’s Utah Bancorp (NASDAQ:PUB) by 57.5% during the first quarter, Holdings Channel reports. The institutional investor owned 7,515 shares of the bank’s stock after selling 10,172 shares during the period. JPMorgan Chase & Co.’s holdings in People’s Utah Bancorp were worth $199,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nationwide Fund Advisors raised its stake in People’s Utah Bancorp by 2.8% in the first quarter. Nationwide Fund Advisors now owns 8,422 shares of the bank’s stock valued at $223,000 after buying an additional 232 shares during the period. James Investment Research Inc. raised its stake in People’s Utah Bancorp by 0.4% in the first quarter. James Investment Research Inc. now owns 114,165 shares of the bank’s stock valued at $3,020,000 after buying an additional 430 shares during the period. Context BH Capital Management LP raised its stake in People’s Utah Bancorp by 2.7% in the first quarter. Context BH Capital Management LP now owns 52,283 shares of the bank’s stock valued at $1,383,000 after buying an additional 1,363 shares during the period. First Trust Advisors LP raised its stake in People’s Utah Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 32,843 shares of the bank’s stock valued at $869,000 after buying an additional 2,823 shares during the period. Finally, Pacific Ridge Capital Partners LLC raised its stake 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 valued at $3,935,000 after buying an additional 2,936 shares during the period. Hedge funds and other institutional investors own 29.68% of the company’s stock.

Shares of People’s Utah Bancorp (PUB) opened at 27.70 on Monday. People’s Utah Bancorp has a 1-year low of $17.75 and a 1-year high of $29.35. The stock has a market capitalization of $497.16 million, a price-to-earnings ratio of 19.65 and a beta of 0.97. The firm’s 50-day moving average price is $26.99 and its 200 day moving average price is $26.27.

People’s Utah Bancorp (NASDAQ:PUB) last issued its earnings results on Friday, July 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. People’s Utah Bancorp had a net margin of 27.79% and a return on equity of 11.25%. The company had revenue of $23.33 million during the quarter, compared to analysts’ expectations of $22.80 million. Equities research analysts expect that People’s Utah Bancorp will post $1.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from People’s Utah Bancorp’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.30%. People’s Utah Bancorp’s dividend payout ratio (DPR) is 25.53%.

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Several equities research analysts have commented on the company. BidaskClub upgraded People’s Utah Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. TheStreet upgraded People’s Utah Bancorp from a “c” rating to a “b-” rating in a research note on Monday, June 12th. ValuEngine upgraded People’s Utah Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded People’s Utah Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Saturday, April 29th. 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. People’s Utah Bancorp presently has a consensus rating of “Hold” and an average price target of $26.00.

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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Institutional Ownership by Quarter for People`s Utah Bancorp (NASDAQ:PUB)

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