Altabancorp (NASDAQ:ALTA) Sees Unusually-High Trading Volume

Altabancorp (NASDAQ:ALTA) shares saw unusually-high trading volume on Thursday . Approximately 7,246 shares traded hands during trading, a decline of 85% from the previous session’s volume of 49,897 shares.The stock last traded at $41.50 and had previously closed at $41.26.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Altabancorp from a “buy” rating to a “hold” rating in a research note on Thursday, April 29th. Raymond James raised their price objective on Altabancorp from $35.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, May 6th.

The company has a market cap of $814.22 million, a price-to-earnings ratio of 18.52 and a beta of 0.99. The business’s 50 day moving average price is $42.38 and its 200-day moving average price is $34.28.

Altabancorp (NASDAQ:ALTA) last issued its quarterly earnings data on Tuesday, April 27th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Altabancorp had a net margin of 33.10% and a return on equity of 12.77%. On average, research analysts forecast that Altabancorp will post 2.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Monday, May 10th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, May 7th. This represents a $0.60 annualized dividend and a yield of 1.39%. Altabancorp’s payout ratio is currently 25.75%.

A number of hedge funds and other institutional investors have recently modified their holdings of ALTA. UBS Group AG increased its position in Altabancorp by 3.8% during the 1st quarter. UBS Group AG now owns 10,405 shares of the company’s stock worth $437,000 after buying an additional 380 shares during the period. US Bancorp DE increased its position in Altabancorp by 32.2% during the first quarter. US Bancorp DE now owns 3,121 shares of the company’s stock worth $131,000 after acquiring an additional 760 shares during the period. Denali Advisors LLC raised its stake in Altabancorp by 52.3% in the 1st quarter. Denali Advisors LLC now owns 2,940 shares of the company’s stock worth $124,000 after purchasing an additional 1,010 shares in the last quarter. Globeflex Capital L P boosted its holdings in Altabancorp by 3.5% in the 4th quarter. Globeflex Capital L P now owns 45,786 shares of the company’s stock valued at $1,278,000 after purchasing an additional 1,556 shares during the period. Finally, John W. Rosenthal Capital Management Inc. grew its position in shares of Altabancorp by 4.1% during the 1st quarter. John W. Rosenthal Capital Management Inc. now owns 40,900 shares of the company’s stock worth $1,719,000 after purchasing an additional 1,600 shares in the last quarter. 47.53% of the stock is currently owned by hedge funds and other institutional investors.

Altabancorp Company Profile (NASDAQ:ALTA)

Altabancorp operates as the bank holding company for Altabank, a state-chartered bank that provides retail and commercial banking products and services. The company accepts checking, rewards checking, savings, and money market deposit accounts, as well as individual retirement accounts and certificates of deposit.

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