Stieven Capital Advisors L.P. cut its stake in CU Bancorp (NASDAQ:CUNB) by 3.3% during the first quarter, Holdings Channel reports. The institutional investor owned 302,254 shares of the financial services provider’s stock after selling 10,200 shares during the period. CU Bancorp accounts for about 2.4% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 13th largest position. Stieven Capital Advisors L.P. owned approximately 1.73% of CU Bancorp worth $11,984,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CUNB. TD Asset Management Inc. bought a new position in CU Bancorp during the first quarter valued at approximately $342,000. SG Americas Securities LLC bought a new position in CU Bancorp during the third quarter valued at approximately $353,000. Whittier Trust Co. increased its position in CU Bancorp by 188.0% in the first quarter. Whittier Trust Co. now owns 17,277 shares of the financial services provider’s stock valued at $685,000 after buying an additional 11,277 shares in the last quarter. Analytic Investors LLC increased its position in CU Bancorp by 27.9% in the third quarter. Analytic Investors LLC now owns 32,054 shares of the financial services provider’s stock valued at $731,000 after buying an additional 7,000 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in CU Bancorp during the fourth quarter valued at approximately $1,000,000. Hedge funds and other institutional investors own 47.95% of the company’s stock.
Shares of CU Bancorp (NASDAQ:CUNB) traded down 0.82% on Friday, reaching $36.15. The company had a trading volume of 80,383 shares. The firm has a market capitalization of $633.42 million, a price-to-earnings ratio of 23.17 and a beta of 0.67. The stock’s 50 day moving average is $37.78 and its 200 day moving average is $35.07. CU Bancorp has a 52 week low of $22.00 and a 52 week high of $40.30.
CU Bancorp (NASDAQ:CUNB) last announced its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The business had revenue of $29.03 million during the quarter, compared to the consensus estimate of $28.83 million. CU Bancorp had a net margin of 23.56% and a return on equity of 8.66%. On average, equities analysts anticipate that CU Bancorp will post $1.78 EPS for the current year.
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Several research firms have recently commented on CUNB. FIG Partners downgraded CU Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, January 30th. Raymond James Financial, Inc. upgraded CU Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, May 8th. DA Davidson downgraded CU Bancorp 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. Finally, Hovde Group boosted their price target on CU Bancorp from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, January 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $40.75.
In other CU Bancorp news, CEO David I. Rainer sold 23,333 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $38.32, for a total value of $894,120.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel F. Selleck sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $39.40, for a total transaction of $98,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 28,333 shares of company stock valued at $1,091,446. 9.06% of the stock is owned by insiders.
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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