Peoples Utah Bancorp: 2Q Earnings Snapshot
AMERICAN FORK, Utah (AP) _ Peoples Utah Bancorp (PUB) on Thursday reported second-quarter profit of $11 million.
The bank, based in American Fork, Utah, said it had earnings of 58 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The bank holding company posted revenue of $33.6 million in the period. Its revenue net of interest expense was $31.3 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $31.2 million.
Peoples Utah Bancorp shares have dropped slightly more than 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $28.81, a decrease of 19% in the last 12 months.