$30.43 Million in Sales Expected for CU Bancorp (CA) (CUNB) This Quarter
Equities analysts expect CU Bancorp (CA) (NASDAQ:CUNB) to post $30.43 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CU Bancorp (CA)’s earnings, with the highest sales estimate coming in at $30.70 million and the lowest estimate coming in at $30.20 million. CU Bancorp (CA) reported sales of $28.11 million during the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The company is expected to issue its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that CU Bancorp (CA) will report full year sales of $30.43 million for the current financial year, with estimates ranging from $120.00 million to $122.10 million. For the next financial year, analysts anticipate that the firm will post sales of $133.50 million per share, with estimates ranging from $130.90 million to $135.70 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow CU Bancorp (CA).
Several brokerages have recently weighed in on CUNB. Zacks Investment Research upgraded CU Bancorp (CA) from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Wednesday, July 19th. BidaskClub cut CU Bancorp (CA) from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $42.00 price objective on shares of CU Bancorp (CA) in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. CU Bancorp (CA) has a consensus rating of “Buy” and a consensus price target of $41.50.
Shares of CU Bancorp (NASDAQ CUNB) opened at 35.75 on Friday. The stock has a market capitalization of $626.52 million, a P/E ratio of 21.27 and a beta of 0.70. The stock has a 50 day moving average price of $35.90 and a 200 day moving average price of $37.01. CU Bancorp has a one year low of $22.35 and a one year high of $40.30.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUNB. Teachers Advisors LLC lifted its holdings in CU Bancorp (CA) by 25.8% in the fourth quarter. Teachers Advisors LLC now owns 34,883 shares of the financial services provider’s stock valued at $1,249,000 after acquiring an additional 7,165 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in CU Bancorp (CA) by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 78,553 shares of the financial services provider’s stock valued at $3,114,000 after acquiring an additional 7,769 shares during the last quarter. TD Asset Management Inc. acquired a new position in CU Bancorp (CA) in the first quarter valued at approximately $342,000. Blair William & Co. IL acquired a new position in CU Bancorp (CA) in the first quarter valued at approximately $301,000. Finally, William Blair Investment Management LLC acquired a new position in CU Bancorp (CA) in the first quarter valued at approximately $6,633,000. Hedge funds and other institutional investors own 56.37% of the company’s stock.
CU Bancorp (CA) Company Profile
CU Bancorp is the bank holding company of California United Bank (the Bank). The Bank is a full-service 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.
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