CU Bancorp (NASDAQ:CUNB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “CU Bancorp is a bank holding company for California United Bank, N.A. The Bank provides business and personal deposit services, cash management, lending services, international banking services, investment services, and private banking services. CU Bancorp is headquartered in Encino, California. “

Separately, Hovde Group raised shares of CU Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $24.75 to $26.00 in a research note on Friday, October 7th.

CU Bancorp (NASDAQ:CUNB) opened at 27.20 on Friday. CU Bancorp has a 12 month low of $20.35 and a 12 month high of $27.65. The company has a market cap of $471.29 million, a P/E ratio of 19.28 and a beta of 0.52. The stock has a 50 day moving average of $24.02 and a 200-day moving average of $23.70.

Hedge funds and other institutional investors have recently modified their holdings of the company. Penn Capital Management Co. Inc. raised its position in shares of CU Bancorp by 5.4% in the third quarter. Penn Capital Management Co. Inc. now owns 80,177 shares of the financial services provider’s stock valued at $1,829,000 after buying an additional 4,092 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of CU Bancorp by 13.4% in the third quarter. Panagora Asset Management Inc. now owns 111,412 shares of the financial services provider’s stock valued at $2,541,000 after buying an additional 13,173 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of CU Bancorp during the third quarter valued at about $6,186,000. Analytic Investors LLC raised its position in shares of CU Bancorp by 27.9% in the third quarter. Analytic Investors LLC now owns 32,054 shares of the financial services provider’s stock valued at $731,000 after buying an additional 7,000 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of CU Bancorp by 2.4% in the third quarter. Northern Trust Corp now owns 161,262 shares of the financial services provider’s stock valued at $3,678,000 after buying an additional 3,762 shares in the last quarter. 47.97% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:CUNB

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