CU Bancorp (CUNB) Upgraded to “Outperform” at Hovde Group
Hovde Group upgraded shares of CU Bancorp (NASDAQ:CUNB) from a market perform rating to an outperform rating in a research report released on Friday. The firm currently has $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 CU Bancorp from a sell rating to a hold rating in a research report on Wednesday, September 14th.
Shares of CU Bancorp (NASDAQ:CUNB) traded up 1.75% during mid-day trading on Friday, hitting $23.20. The company had a trading volume of 15,033 shares. CU Bancorp has a one year low of $20.35 and a one year high of $27.66. The company has a market capitalization of $400.99 million, a PE ratio of 17.06 and a beta of 0.55. The company’s 50-day moving average is $24.05 and its 200 day moving average is $23.15.
CU Bancorp (NASDAQ:CUNB) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. CU Bancorp had a return on equity of 8.42% and a net margin of 22.88%. On average, equities research analysts forecast that CU Bancorp will post $1.44 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Lebenthal Asset Management LLC bought a new position in shares of CU Bancorp during the second quarter valued at $202,000. Lebenthal Holdings LLC bought a new position in shares of CU Bancorp during the second quarter valued at $202,000. Deere & Co. boosted its position 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 boosted its position 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. bought a new position 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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