Zacks Investment Research upgraded shares of CU Bancorp (CA) (NASDAQ:CUNB) from a hold rating to a strong-buy rating in a research note released on Wednesday. The firm currently has $42.00 price target on the financial services provider’s stock.
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. “
Other analysts have also issued research reports about the company. DA Davidson lowered CU Bancorp (CA) from a buy rating to a neutral rating and boosted their price target for the company from $42.00 to $43.00 in a report on Friday, April 7th. Raymond James Financial, Inc. raised CU Bancorp (CA) from a mkt perform rating to an outperform rating in a report on Monday, May 15th. FIG Partners raised CU Bancorp (CA) from a market perform rating to an outperform rating in a report on Tuesday, May 2nd. Finally, BidaskClub lowered CU Bancorp (CA) from a hold rating to a sell rating in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. CU Bancorp (CA) has an average rating of Buy and a consensus price target of $41.50.
CU Bancorp (NASDAQ:CUNB) opened at 36.95 on Wednesday. The company has a market cap of $647.44 million, a P/E ratio of 23.69 and a beta of 0.70. The stock’s 50 day moving average price is $36.31 and its 200 day moving average price is $37.19. CU Bancorp has a 1-year low of $22.35 and a 1-year high of $40.30.
CU Bancorp (CA) (NASDAQ:CUNB) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. CU Bancorp (CA) had a return on equity of 9.87% and a net margin of 25.42%. The company had revenue of $29.03 million during the quarter, compared to analyst estimates of $28.83 million. On average, equities analysts anticipate that CU Bancorp will post $1.83 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in CUNB. KCG Holdings Inc. bought a new stake in CU Bancorp (CA) during the first quarter valued at about $281,000. Blair William & Co. IL bought a new stake in CU Bancorp (CA) during the first quarter valued at about $301,000. TD Asset Management Inc. bought a new stake in CU Bancorp (CA) during the first quarter valued at about $342,000. American International Group Inc. raised its stake 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 in the last quarter. Finally, Credit Suisse AG raised its stake 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 in the last quarter. 55.33% of the stock is owned by institutional investors and hedge funds.
About CU Bancorp (CA)
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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