Kennedy Capital Management Inc. cut its stake in People’s Utah Bancorp (NASDAQ:PUB) by 47.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,305 shares of the bank’s stock after selling 30,621 shares during the quarter. Kennedy Capital Management Inc. owned approximately 0.19% of People’s Utah Bancorp worth $893,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Swiss National Bank purchased a new position in People’s Utah Bancorp in the 2nd quarter valued at about $641,000. Chicago Equity Partners LLC acquired a new stake in People’s Utah Bancorp in the 2nd quarter valued at about $352,000. Victory Capital Management Inc. raised its holdings in People’s Utah Bancorp by 5.3% in the 2nd quarter. Victory Capital Management Inc. now owns 36,299 shares of the bank’s stock valued at $973,000 after acquiring an additional 1,835 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in People’s Utah Bancorp by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 64,126 shares of the bank’s stock valued at $1,719,000 after acquiring an additional 7,817 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in People’s Utah Bancorp in the 2nd quarter valued at about $163,000. 31.14% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. BidaskClub upgraded shares of People’s Utah Bancorp from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine upgraded shares of People’s Utah Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, TheStreet upgraded shares of People’s Utah Bancorp from a “c” rating to a “b-” rating in a report on Monday, June 12th.

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In other People’s Utah Bancorp news, Director Jr. Fred W. Fairclough sold 1,700 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $26.87, for a total value of $45,679.00. Following the sale, the director now 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 can be accessed through the SEC website. Also, Director Jr. Fred W. Fairclough sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $27.07, for a total transaction of $54,140.00. The disclosure for this sale can be found here. Insiders sold 182,780 shares of company stock worth $4,966,588 in the last ninety days. Insiders own 25.21% of the company’s stock.

Shares of People’s Utah Bancorp (NASDAQ:PUB) opened at 29.35 on Friday. The firm has a 50-day moving average of $28.63 and a 200-day moving average of $28.63. People’s Utah Bancorp has a 12-month low of $18.49 and a 12-month high of $30.60. The firm has a market cap of $527.07 million, a P/E ratio of 20.82 and a beta of 0.98.

People’s Utah Bancorp (NASDAQ:PUB) last released its quarterly earnings data on Friday, July 28th. The bank reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. People’s Utah Bancorp had a net margin of 27.79% and a return on equity of 11.13%. The firm had revenue of $23.33 million for the quarter, compared to the consensus estimate of $22.80 million. On average, equities analysts forecast that People’s Utah Bancorp will post $1.46 earnings per share for the current fiscal year.

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.

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

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