Stevens Capital Management LP grew its stake in CU Bancorp (NASDAQ:CUNB) by 147.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,802 shares of the financial services provider’s stock after acquiring an additional 35,623 shares during the quarter. Stevens Capital Management LP owned about 0.34% of CU Bancorp worth $2,319,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of CU Bancorp by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 4,097 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 167 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of CU Bancorp in the 2nd quarter worth $253,000. UBS Asset Management Americas Inc. acquired a new stake in shares of CU Bancorp in the 2nd quarter worth $260,000. Cubist Systematic Strategies LLC acquired a new stake in shares of CU Bancorp in the 2nd quarter worth $271,000. Finally, KCG Holdings Inc. acquired a new stake in shares of CU Bancorp in the 1st quarter worth $281,000. 56.35% of the stock is owned by institutional investors and hedge funds.
Shares of CU Bancorp (NASDAQ CUNB) opened at $37.50 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 0.90. CU Bancorp has a 52-week low of $22.60 and a 52-week high of $40.30.
A number of brokerages recently issued reports on CUNB. Zacks Investment Research raised CU Bancorp from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Wednesday, July 19th. BidaskClub downgraded CU Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price objective on shares of CU Bancorp in a research report on Monday, August 14th. One 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’s stock. The stock presently has an average rating of “Buy” and an average target price 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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