CU Bancorp (CA) (NASDAQ:CUNB) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 183,394 shares, a decline of 8.0% from the April 28th total of 199,258 shares. Based on an average daily volume of 151,365 shares, the short-interest ratio is currently 1.2 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUNB. American International Group Inc. boosted its position in CU Bancorp (CA) by 7.2% in the first quarter. American International Group Inc. now owns 10,005 shares of the financial services provider’s stock valued at $397,000 after buying an additional 669 shares during the last quarter. Credit Suisse AG boosted its position in CU Bancorp (CA) by 13.8% in the first quarter. Credit Suisse AG now owns 10,450 shares of the financial services provider’s stock valued at $414,000 after buying an additional 1,265 shares during the last quarter. Teachers Advisors LLC boosted its position in CU Bancorp (CA) by 6.0% in the first quarter. Teachers Advisors LLC now owns 36,964 shares of the financial services provider’s stock valued at $1,466,000 after buying an additional 2,081 shares during the last quarter. Lincoln National Corp boosted its position in CU Bancorp (CA) by 13.1% in the first quarter. Lincoln National Corp now owns 27,462 shares of the financial services provider’s stock valued at $1,089,000 after buying an additional 3,174 shares during the last quarter. Finally, Penn Capital Management Co. Inc. boosted its position in CU Bancorp (CA) 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 during the last quarter. Hedge funds and other institutional investors own 55.33% of the company’s stock.

Shares of CU Bancorp (NASDAQ CUNB) traded down 0.14% during mid-day trading on Friday, reaching $36.90. 287,854 shares of the company’s stock were exchanged. CU Bancorp has a one year low of $22.10 and a one year high of $40.30. The company has a market capitalization of $646.56 million, a PE ratio of 23.65 and a beta of 0.69. The company’s 50-day moving average price is $36.86 and its 200-day moving average price is $36.53.

CU Bancorp (CA) (NASDAQ:CUNB) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The firm had revenue of $29.03 million during the quarter, compared to analysts’ expectations of $28.83 million. CU Bancorp (CA) had a return on equity of 8.83% and a net margin of 24.25%. On average, equities analysts expect that CU Bancorp will post $1.77 earnings per share for the current year.

Several research firms have recently weighed in on CUNB. Zacks Investment Research raised shares of CU Bancorp (CA) from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday, June 8th. Raymond James Financial, Inc. raised shares of CU Bancorp (CA) from a “mkt perform” rating to an “outperform” rating in a report on Monday, May 15th. FIG Partners raised shares of CU Bancorp (CA) from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 2nd. Finally, DA Davidson cut shares of CU Bancorp (CA) from a “buy” rating to a “neutral” rating and upped their target price for the company from $42.00 to $43.00 in a report on Friday, April 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $41.00.

COPYRIGHT VIOLATION WARNING: This story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/06/16/short-interest-in-cu-bancorp-cunb-decreases-by-8-0-updated-updated.html.

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.

Receive News & Stock Ratings for CU Bancorp (CA) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CU Bancorp (CA) and related stocks with our FREE daily email newsletter.