Northern Trust Corp Boosts Position in CU Bancorp (CUNB)
Northern Trust Corp increased its position in shares of CU Bancorp (NASDAQ:CUNB) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 183,304 shares of the financial services provider’s stock after buying an additional 2,115 shares during the quarter. Northern Trust Corp owned about 1.04% of CU Bancorp worth $6,627,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in CU Bancorp 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 buying an additional 167 shares during the period. Principal Financial Group Inc. acquired a new position in CU Bancorp during the 2nd quarter worth approximately $253,000. KCG Holdings Inc. acquired a new position in CU Bancorp during the 1st quarter worth approximately $281,000. UBS Asset Management Americas Inc. acquired a new position in CU Bancorp during the 2nd quarter worth approximately $260,000. Finally, Trexquant Investment LP acquired a new position in CU Bancorp during the 2nd quarter worth approximately $316,000. 56.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of CU Bancorp (NASDAQ CUNB) opened at $37.50 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90. CU Bancorp has a twelve month low of $22.60 and a twelve month high of $40.30.
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A number of research analysts recently weighed in on CUNB shares. BidaskClub raised CU Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price objective on shares of CU Bancorp in a report on Monday, August 14th. Finally, Zacks Investment Research lowered CU Bancorp from a “buy” rating to a “hold” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $41.50.
CU Bancorp 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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