Zacks: Brokerages Anticipate CU Bancorp (CA) (CUNB) Will Announce Quarterly Sales of $30.45 Million
Analysts expect CU Bancorp (CA) (NASDAQ:CUNB) to post $30.45 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for CU Bancorp (CA)’s earnings, with estimates ranging from $30.20 million to $30.70 million. CU Bancorp (CA) reported sales of $28.11 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The business is scheduled to report its next earnings results on Thursday, October 26th.
On average, analysts expect that CU Bancorp (CA) will report full year sales of $30.45 million for the current financial year, with estimates ranging from $120.60 million to $122.10 million. For the next financial year, analysts expect that the firm will report sales of $133.30 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 sell-side research analysts that cover CU Bancorp (CA).
CUNB has been the topic of a number of research reports. BidaskClub lowered shares of CU Bancorp (CA) from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 price objective on shares of CU Bancorp (CA) in a report on Monday, August 14th. Finally, Zacks Investment Research raised shares of CU Bancorp (CA) from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.50.
CU Bancorp (CUNB) remained flat at $37.50 during midday trading on Monday. 438,942 shares of the stock traded hands. The firm has a market capitalization of $657.19 million, a P/E ratio of 22.31 and a beta of 0.72. CU Bancorp has a 52 week low of $22.60 and a 52 week high of $40.30. The stock has a 50-day moving average of $37.12 and a 200-day moving average of $36.81.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of CU Bancorp (CA) by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 4,097 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 167 shares during the period. Principal Financial Group Inc. bought a new stake in shares of CU Bancorp (CA) during the 2nd quarter worth approximately $253,000. UBS Asset Management Americas Inc. bought a new stake in shares of CU Bancorp (CA) during the 2nd quarter worth approximately $260,000. Cubist Systematic Strategies LLC bought a new stake in shares of CU Bancorp (CA) during the 2nd quarter worth approximately $271,000. Finally, KCG Holdings Inc. bought a new stake in shares of CU Bancorp (CA) during the 1st quarter worth approximately $281,000. 56.32% of the stock is owned by institutional investors.
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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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