CU Bancorp (NASDAQ:CUNB) was upgraded by equities researchers at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued on Friday. The brokerage presently has a $26.00 price target on the financial services provider’s stock, up from their prior price target of $24.75. Hovde Group’s target price would suggest a potential upside of 11.88% from the company’s previous close.
Separately, Zacks Investment Research upgraded CU Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, September 26th.
Shares of CU Bancorp (NASDAQ:CUNB) opened at 23.24 on Friday. The firm has a market cap of $401.68 million, a price-to-earnings ratio of 17.09 and a beta of 0.55. The company has a 50-day moving average price of $24.02 and a 200-day moving average price of $23.19. CU Bancorp has a 12 month low of $20.35 and a 12 month high of $27.66.
CU Bancorp (NASDAQ:CUNB) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. CU Bancorp had a return on equity of 8.42% and a net margin of 22.88%. Analysts forecast that CU Bancorp will post $1.44 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in CUNB. Lebenthal Asset Management LLC acquired a new stake in shares of CU Bancorp during the second quarter valued at approximately $202,000. Lebenthal Holdings LLC acquired a new stake in shares of CU Bancorp during the second quarter valued at approximately $202,000. Deere & Co. raised its stake in shares of CU Bancorp by 17.6% in the second quarter. Deere & Co. now owns 12,501 shares of the financial services provider’s stock valued at $284,000 after buying an additional 1,872 shares during the last quarter. First Trust Advisors LP raised its stake in shares of CU Bancorp by 6.0% in the second quarter. First Trust Advisors LP now owns 17,298 shares of the financial services provider’s stock valued at $393,000 after buying an additional 985 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of CU Bancorp during the second quarter valued at approximately $407,000. Hedge funds and other institutional investors own 47.41% of the company’s stock.
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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