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 note issued to investors 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 trading on Tuesday, hitting $24.12. The stock had a trading volume of 15,597 shares. The stock has a market capitalization of $416.89 million, a PE ratio of 17.74 and a beta of 0.53. CU Bancorp has a 52-week low of $20.35 and a 52-week high of $27.66. The stock’s 50-day moving average is $24.29 and its 200-day moving average is $23.06.
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CU Bancorp (NASDAQ:CUNB) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. CU Bancorp had a return on equity of 8.42% and a net margin of 22.88%. On average, analysts predict that CU Bancorp will post $1.48 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Lebenthal Asset Management LLC acquired a new position in shares of CU Bancorp during the second quarter valued at approximately $202,000. Lebenthal Holdings LLC acquired a new position in shares of CU Bancorp during the second quarter valued at approximately $202,000. Deere & Co. increased its position in shares of CU Bancorp by 17.6% in the second quarter. Deere & Co. now owns 12,501 shares of the financial services provider’s stock valued at $284,000 after buying an additional 1,872 shares during the period. First Trust Advisors LP increased its position in shares of CU Bancorp by 6.0% in the second quarter. First Trust Advisors LP now owns 17,298 shares of the financial services provider’s stock valued at $393,000 after buying an additional 985 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new position in shares of CU Bancorp during the second quarter valued at approximately $407,000. 47.41% of the stock is currently owned by institutional investors.
CU Bancorp Company Profile
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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