CU Bancorp (NASDAQ:CUNB) has been given an average rating of “Buy” by the seven brokerages that are currently covering the company. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $40.75.
A number of analysts recently issued reports on the company. FIG Partners cut CU Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, January 30th. Zacks Investment Research raised CU Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, January 10th. DA Davidson cut CU Bancorp from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $42.00 to $43.00 in a research report on Friday, April 7th. Piper Jaffray Companies initiated coverage on CU Bancorp in a research report on Wednesday, January 18th. They issued an “overweight” rating and a $42.00 price target for the company. Finally, Hovde Group boosted their price target on CU Bancorp from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th.
Shares of CU Bancorp (NASDAQ:CUNB) traded up 0.616% on Tuesday, reaching $36.725. The company’s stock had a trading volume of 946,152 shares. The stock has a market capitalization of $641.81 million, a P/E ratio of 24.483 and a beta of 0.67. The company has a 50 day moving average of $38.53 and a 200 day moving average of $32.86. CU Bancorp has a 1-year low of $21.11 and a 1-year high of $40.30.
CU Bancorp (NASDAQ:CUNB) last released its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm earned $28.49 million during the quarter, compared to analysts’ expectations of $28.47 million. CU Bancorp had a return on equity of 8.66% and a net margin of 23.56%. Equities research analysts expect that CU Bancorp will post $1.76 earnings per share for the current fiscal year.
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In other news, Director Daniel F. Selleck sold 2,500 shares of CU Bancorp stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $39.53, for a total value of $98,825.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David I. Rainer sold 23,333 shares of CU Bancorp stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $38.32, for a total value of $894,120.56. The disclosure for this sale can be found here. Insiders sold 43,333 shares of company stock worth $1,638,946 over the last quarter. 9.06% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of CU Bancorp by 9.1% in the fourth quarter. State Street Corp now owns 273,460 shares of the financial services provider’s stock valued at $9,790,000 after buying an additional 22,834 shares in the last quarter. Renaissance Technologies LLC raised its stake in CU Bancorp by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 203,500 shares of the financial services provider’s stock valued at $7,285,000 after buying an additional 19,300 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in CU Bancorp by 30.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 143,318 shares of the financial services provider’s stock valued at $5,131,000 after buying an additional 33,249 shares in the last quarter. AlphaOne Investment Services LLC raised its stake in CU Bancorp by 6.6% in the fourth quarter. AlphaOne Investment Services LLC now owns 107,566 shares of the financial services provider’s stock valued at $3,851,000 after buying an additional 6,700 shares in the last quarter. Finally, Penn Capital Management Co. Inc. raised its stake in CU Bancorp by 5.4% in the third quarter. Penn Capital Management Co. Inc. now owns 80,177 shares of the financial services provider’s stock valued at $1,829,000 after buying an additional 4,092 shares in the last quarter. Hedge funds and other institutional investors own 47.95% of the company’s stock.
About CU Bancorp
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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