Hovde Group Begins Coverage on Commerce Union Bancshares, Inc. (CUBN)
Investment analysts at Hovde Group started coverage on shares of Commerce Union Bancshares, Inc. (NASDAQ:CUBN) in a report issued on Wednesday. The brokerage set an “outperform” rating and a $26.50 price target on the bank’s stock. Hovde Group’s target price points to a potential upside of 11.06% from the company’s previous close.
CUBN has been the subject of several other reports. Keefe, Bruyette & Woods initiated coverage on shares of Commerce Union Bancshares in a report on Friday, September 29th. They issued a “market perform” rating and a $24.00 price target for the company. ValuEngine downgraded shares of Commerce Union Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, TheStreet raised shares of Commerce Union Bancshares from a “c+” rating to a “b” rating in a report on Monday, July 3rd.
Shares of Commerce Union Bancshares (CUBN) opened at 23.86 on Wednesday. Commerce Union Bancshares has a 52-week low of $19.02 and a 52-week high of $26.20. The company has a 50 day moving average price of $23.44 and a 200-day moving average price of $23.18. The firm has a market cap of $187.80 million, a P/E ratio of 21.69 and a beta of 0.44.
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Several hedge funds and other institutional investors have recently bought and sold shares of CUBN. Northern Trust Corp bought a new stake in Commerce Union Bancshares in the second quarter worth $1,722,000. State Street Corp bought a new stake in Commerce Union Bancshares in the second quarter worth $1,719,000. Bank of New York Mellon Corp bought a new stake in Commerce Union Bancshares in the second quarter worth $470,000. TIAA CREF Investment Management LLC bought a new stake in Commerce Union Bancshares in the second quarter worth $435,000. Finally, Vanguard Group Inc. lifted its stake in Commerce Union Bancshares by 7.4% in the second quarter. Vanguard Group Inc. now owns 211,553 shares of the bank’s stock worth $5,050,000 after purchasing an additional 14,650 shares during the last quarter. 15.40% of the stock is owned by institutional investors.
Commerce Union Bancshares Company Profile
Commerce Union Bancshares, Inc serves as the bank holding company for Reliant Bank. The Company has two segments: Retail Banking and Residential Mortgage Banking. Retail Banking provides deposit and lending services to consumer and business customers within its primary geographic markets. Its customers are serviced through branch locations, automated teller machines (ATMs), online banking and mobile banking.
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