CU Bancorp (CUNB) Lifted to “Outperform” at Hovde Group
CU Bancorp (NASDAQ:CUNB) was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday. The firm presently has a $26.00 target price on the financial services provider’s stock, up from their previous target price of $24.75. Hovde Group’s target price points to a potential upside of 15.97% from the company’s previous close.
Separately, Zacks Investment Research lowered CU Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th.
CU Bancorp (NASDAQ:CUNB) traded up 3.52% on Friday, hitting $23.21. The stock had a trading volume of 140,603 shares. The firm has a market cap of $401.16 million, a P/E ratio of 17.07 and a beta of 0.54. CU Bancorp has a 1-year low of $20.35 and a 1-year high of $27.66. The firm’s 50-day moving average price is $24.08 and its 200-day moving average price is $23.15.
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CU Bancorp (NASDAQ:CUNB) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share for the quarter, hitting 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, equities research analysts predict that CU Bancorp will post $1.44 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of CUNB. Wellington Management Group LLP increased its position in 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 valued at $34,655,000 after buying an additional 101,814 shares during the period. Banc Funds Co. LLC increased its position in CU Bancorp by 6.2% in the second quarter. Banc Funds Co. LLC now owns 1,195,881 shares of the financial services provider’s stock valued at $27,182,000 after buying an additional 70,267 shares during the period. Vanguard Group Inc. increased its position in CU Bancorp by 29.9% in the second quarter. Vanguard Group Inc. now owns 458,303 shares of the financial services provider’s stock valued at $10,417,000 after buying an additional 105,522 shares during the period. Stieven Capital Advisors L.P. increased its position in CU Bancorp by 9.5% in the second quarter. Stieven Capital Advisors L.P. now owns 307,154 shares of the financial services provider’s stock valued at $6,982,000 after buying an additional 26,567 shares during the period. Finally, State Street Corp increased its position in CU Bancorp by 12.5% in the second quarter. State Street Corp now owns 246,788 shares of the financial services provider’s stock valued at $5,609,000 after buying an additional 27,413 shares during the period. Institutional investors and hedge funds own 47.41% of the company’s stock.
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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