Bank of New York Mellon Corp raised its stake in CU Bancorp (NASDAQ:CUNB) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 53,015 shares of the financial services provider’s stock after buying an additional 1,444 shares during the period. Bank of New York Mellon Corp owned 0.31% of CU Bancorp worth $1,206,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in CU Bancorp by 6.6% in the first quarter. Wellington Management Group LLP now owns 1,636,976 shares of the financial services provider’s stock worth $34,655,000 after buying an additional 101,814 shares during the period. Geode Capital Management LLC boosted its position in CU Bancorp by 2.9% in the first quarter. Geode Capital Management LLC now owns 81,033 shares of the financial services provider’s stock worth $1,715,000 after buying an additional 2,284 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in CU Bancorp by 27,857.2% in the first quarter. JPMorgan Chase & Co. now owns 58,151 shares of the financial services provider’s stock worth $1,231,000 after buying an additional 57,943 shares during the period. Institutional investors and hedge funds own 47.41% of the company’s stock.
Shares of CU Bancorp (NASDAQ:CUNB) traded down 1.08% during mid-day trading on Thursday, reaching $22.88. 7,699 shares of the company’s stock traded hands. CU Bancorp has a 12-month low of $20.35 and a 12-month high of $27.66. The company has a market cap of $395.46 million, a P/E ratio of 16.82 and a beta of 0.54. The company’s 50 day moving average is $23.97 and its 200 day moving average is $23.19.
CU Bancorp (NASDAQ:CUNB) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. CU Bancorp had a net margin of 22.88% and a return on equity of 8.42%. On average, analysts predict that CU Bancorp will post $1.44 EPS for the current fiscal year.
A number of research analysts recently weighed in on the stock. Hovde Group upgraded shares of CU Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $24.75 to $26.00 in a research note on Friday, October 7th. Zacks Investment Research upgraded shares of CU Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, September 26th.
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.
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