Zacks: Analysts Expect CU Bancorp (CA) (CUNB) Will Announce Quarterly Sales of $30.43 Million
Brokerages expect CU Bancorp (CA) (NASDAQ:CUNB) to report $30.43 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for CU Bancorp (CA)’s earnings. The lowest sales estimate is $30.20 million and the highest is $30.70 million. CU Bancorp (CA) posted sales of $28.11 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that CU Bancorp (CA) will report full year sales of $30.43 million for the current fiscal year, with estimates ranging from $120.00 million to $122.10 million. For the next financial year, analysts anticipate that the business will report sales of $133.50 million per share, with estimates ranging from $130.90 million to $135.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for CU Bancorp (CA).
CUNB has been the topic of several research analyst reports. Zacks Investment Research upgraded CU Bancorp (CA) from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Thursday, June 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 target price on shares of CU Bancorp (CA) in a research report on Monday, August 14th. Finally, BidaskClub raised CU Bancorp (CA) from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.50.
Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in CU Bancorp (CA) by 3.2% during the 1st quarter. Renaissance Technologies LLC now owns 210,000 shares of the financial services provider’s stock worth $8,327,000 after purchasing an additional 6,500 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of CU Bancorp (CA) by 6.0% in the first quarter. Teachers Advisors LLC now owns 36,964 shares of the financial services provider’s stock valued at $1,466,000 after acquiring an additional 2,081 shares during the period. Vanguard Group Inc. boosted its position in shares of CU Bancorp (CA) by 19.0% in the first quarter. Vanguard Group Inc. now owns 619,881 shares of the financial services provider’s stock valued at $24,578,000 after acquiring an additional 98,823 shares during the period. KCG Holdings Inc. bought a new position in shares of CU Bancorp (CA) in the first quarter valued at approximately $281,000. Finally, Russell Investments Group Ltd. boosted its position in shares of CU Bancorp (CA) by 161.6% in the second quarter. Russell Investments Group Ltd. now owns 62,144 shares of the financial services provider’s stock valued at $2,246,000 after acquiring an additional 38,390 shares during the period. Institutional investors own 56.32% of the company’s stock.
CU Bancorp (CUNB) traded down 1.43% during mid-day trading on Wednesday, reaching $37.95. The company had a trading volume of 11,604 shares. The company has a market capitalization of $665.07 million, a price-to-earnings ratio of 22.58 and a beta of 0.72. CU Bancorp has a 12-month low of $22.35 and a 12-month high of $40.30. The stock has a 50-day moving average of $36.38 and a 200 day moving average of $36.89.
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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