CU Bancorp (NASDAQ:CUNB) was upgraded by research analysts at Raymond James Financial, Inc. from a “market perform” rating to an “outperform” rating in a research note issued on Monday, May 8th.
Several other research analysts also recently commented on the company. FIG Partners upgraded CU Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 2nd. Zacks Investment Research upgraded CU Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Tuesday, January 10th. Piper Jaffray Companies began coverage on CU Bancorp in a report on Wednesday, January 18th. They issued an “overweight” rating and a $42.00 price target on the stock. DA Davidson cut CU Bancorp from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $42.00 to $43.00 in a research report on Friday, April 7th. Finally, Hovde Group lifted 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.75.
CU Bancorp (NASDAQ:CUNB) traded down 0.82% during mid-day trading on Monday, reaching $36.15. 80,383 shares of the company’s stock were exchanged. CU Bancorp has a one year low of $22.00 and a one year high of $40.30. The stock has a 50-day moving average of $37.88 and a 200-day moving average of $34.98. The stock has a market cap of $633.42 million, a price-to-earnings ratio of 23.17 and a beta of 0.67.
CU Bancorp (NASDAQ:CUNB) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The firm had revenue of $29.03 million during the quarter, compared to analyst estimates of $28.83 million. CU Bancorp had a return on equity of 8.66% and a net margin of 23.56%. On average, equities research analysts anticipate that CU Bancorp will post $1.78 earnings per share for the current year.
In related news, CEO David I. Rainer sold 23,333 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $38.32, for a total value of $894,120.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel F. Selleck sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $39.40, for a total value of $98,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,333 shares of company stock valued at $1,091,446. 9.06% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. William Blair Investment Management LLC acquired a new position in CU Bancorp during the first quarter valued at approximately $6,633,000. Vanguard Group Inc. raised its position in CU Bancorp by 19.0% in the first quarter. Vanguard Group Inc. now owns 619,881 shares of the financial services provider’s stock valued at $24,578,000 after buying an additional 98,823 shares during the period. Dimensional Fund Advisors LP raised its position in CU Bancorp by 42.1% in the first quarter. Dimensional Fund Advisors LP now owns 203,613 shares of the financial services provider’s stock valued at $8,073,000 after buying an additional 60,295 shares during the period. John W. Rosenthal Capital Management Inc. acquired a new position in CU Bancorp during the fourth quarter valued at approximately $2,148,000. Finally, Allianz Asset Management AG acquired a new position in CU Bancorp during the fourth quarter valued at approximately $1,735,000. 47.95% of the stock is currently owned by hedge funds and other institutional investors.
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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