First Trust Advisors LP increased its position in CU Bancorp (NASDAQ:CUNB) by 6.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,298 shares of the financial services provider’s stock after buying an additional 985 shares during the period. First Trust Advisors LP owned 0.10% of CU Bancorp worth $393,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake 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 last quarter. Bank of New York Mellon Corp boosted its stake in CU Bancorp by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 53,015 shares of the financial services provider’s stock valued at $1,206,000 after buying an additional 1,444 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $1,715,000 after buying an additional 2,284 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in CU Bancorp during the second quarter valued at approximately $407,000. Finally, Context BH Capital Management LP boosted its stake in CU Bancorp by 20.6% in the second quarter. Context BH Capital Management LP now owns 62,932 shares of the financial services provider’s stock valued at $1,430,000 after buying an additional 10,767 shares in the last quarter. 47.41% of the stock is owned by institutional investors.
CU Bancorp (NASDAQ:CUNB) traded down 0.39% during trading on Friday, reaching $22.83. The company had a trading volume of 38,489 shares. The company has a 50-day moving average of $23.94 and a 200-day moving average of $23.19. CU Bancorp has a 52-week low of $20.35 and a 52-week high of $27.66. The firm has a market capitalization of $394.59 million, a P/E ratio of 16.79 and a beta of 0.54.
CU Bancorp (NASDAQ:CUNB) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. CU Bancorp had a return on equity of 8.42% and a net margin of 22.88%. Analysts expect that CU Bancorp will post $1.44 EPS for the current fiscal year.
Several analysts have recently commented on CUNB shares. Zacks Investment Research raised CU Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Hovde Group raised CU Bancorp from a “market perform” rating to an “outperform” rating and raised their price target for the company from $24.75 to $26.00 in a report on Friday, October 7th.
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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