Hovde Group upgraded shares of CU Bancorp (NASDAQ:CUNB) from a market perform rating to an outperform rating in a research note issued to investors on Friday morning. They currently have $26.00 price objective on the financial services provider’s stock, up from their prior price objective of $24.75.
Separately, Zacks Investment Research raised shares of CU Bancorp from a sell rating to a hold rating in a report on Wednesday, September 14th.
Shares of CU Bancorp (NASDAQ:CUNB) opened at 22.84 on Friday. The firm’s 50-day moving average is $24.00 and its 200-day moving average is $23.19. The stock has a market capitalization of $394.77 million, a price-to-earnings ratio of 16.79 and a beta of 0.54. CU Bancorp has a 52 week low of $20.35 and a 52 week high of $27.66.
CU Bancorp (NASDAQ:CUNB) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. CU Bancorp had a net margin of 22.88% and a return on equity of 8.42%. Analysts forecast that CU Bancorp will post $1.44 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Lebenthal Asset Management LLC purchased a new stake in shares of CU Bancorp during the second quarter valued at $202,000. Lebenthal Holdings LLC purchased a new stake in shares of CU Bancorp during the second quarter valued at $202,000. Deere & Co. increased its stake in shares of CU Bancorp by 17.6% in the second quarter. Deere & Co. now owns 12,501 shares of the financial services provider’s stock valued at $284,000 after buying an additional 1,872 shares during the period. First Trust Advisors LP increased its stake in shares of CU Bancorp by 6.0% in the second quarter. First Trust Advisors LP now owns 17,298 shares of the financial services provider’s stock valued at $393,000 after buying an additional 985 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of CU Bancorp during the second quarter valued at $407,000. Institutional investors own 47.41% of the company’s stock.
CU Bancorp Company Profile
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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