Our analysis is based on comparing People’s Utah Bancorp with the following peers – Mid Penn Bancorp, Inc., MidWestOne Financial Group, Inc., MainStreet Bancshares, Inc. and Marquette National Corporation (MPB-US, MOFG-US, MNSB-US and MNAT-US).
People’s Utah Bancorp’s dividend yield is 1.09 percent and its dividend payout is 23.40 percent. This compares to a peer average dividend yield of 1.63 percent and a payout level of 25 percent. This relatively lagging dividend performance could spur some dividend action going forward – except the company’s current dividend quality score of 58 out of a possible score of 100 is only about average.
Dividend Quality Overview
- Over the last twelve months (prior to September 30, 2017), PUB-US paid a medium quality dividend, which represents a yield of 1.06% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 2 were medium quality and 3 were low quality.
- The ending cash balance, with a dividend coverage of 5.16x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Quadrant label definitions. Hover to know more
Over the last twelve months (prior to September 30, 2017), PUB-US paid a medium quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 4.36x), investing cash flow (coverage of -16.41x), issuance cash flow (coverage of 18.02x) and twelve-month prior cash (coverage of 5.81x), for a total dividend coverage of 6.25x.
PUB-US’s issuance cash flow includes outflows from net debt repayment (coverage of -4.67x).
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||N/A||N/A||N/A||1.67||1.07||1.09|
|Dividend Payout (%)||N/A||N/A||N/A||10.26||22.31||23.4|
A complete list of metrics and analysis is available on the company page.
People’s Utah Bancorp operates as a bank holding company. It operates through its holly-owned banking subsidiaries, Bank of American Fork and Lewiston State Bank, which provides banking and related services to locally-owned businesses, professional firms, real estate developers, residential home builders, high net-worth individuals, investors,and other customers. The company was founded in 1998 and is headquartered in American Fork, UT.
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