Zacks Investment Research Upgrades CU Bancorp (CUNB) to “Hold”
CU Bancorp (NASDAQ:CUNB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “CU Bancorp is a bank holding company for California United Bank, N.A. The Bank provides business and personal deposit services, cash management, lending services, international banking services, investment services, and private banking services. CU Bancorp is headquartered in Encino, California. “
CU Bancorp (NASDAQ:CUNB) traded down 0.70% during mid-day trading on Tuesday, reaching $24.12. The company had a trading volume of 15,597 shares. The firm’s 50 day moving average price is $24.29 and its 200-day moving average price is $23.06. CU Bancorp has a 12 month low of $20.35 and a 12 month high of $27.66. The company has a market capitalization of $416.89 million, a price-to-earnings ratio of 17.74 and a beta of 0.53.
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CU Bancorp (NASDAQ:CUNB) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. CU Bancorp had a return on equity of 8.42% and a net margin of 22.88%. Equities research analysts anticipate that CU Bancorp will post $1.48 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in CUNB. Wellington Management Group LLP increased its stake in shares of CU Bancorp by 6.6% in the first quarter. Wellington Management Group LLP now owns 1,636,976 shares of the financial services provider’s stock worth $34,655,000 after buying an additional 101,814 shares during the period. State Street Corp increased its stake in shares of CU Bancorp by 1.7% in the first quarter. State Street Corp now owns 219,375 shares of the financial services provider’s stock worth $4,644,000 after buying an additional 3,767 shares during the period. Granite Investment Partners LLC increased its stake in shares of CU Bancorp by 23.6% in the first quarter. Granite Investment Partners LLC now owns 62,044 shares of the financial services provider’s stock worth $1,313,000 after buying an additional 11,864 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of CU Bancorp by 10.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 161,008 shares of the financial services provider’s stock worth $3,409,000 after buying an additional 15,050 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of CU Bancorp by 2.9% in the first quarter. Geode Capital Management LLC now owns 81,033 shares of the financial services provider’s stock worth $1,715,000 after buying an additional 2,284 shares during the period. 47.41% of the stock is owned by institutional investors.
About CU Bancorp
CU Bancorp is a bank holding company. The Company’s principal business is to serve as the holding company for its bank subsidiary, California United Bank (the Bank). It operates in commercial business banking segment. The Bank is a commercial bank offering a range of banking products and services designed for small and medium-sized businesses, non-profit organizations, business owners and entrepreneurs, and the professional community, including attorneys, certified public accountants, financial advisors and healthcare providers, and investors.
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