Brokerages Set CU Bancorp (CUNB) Target Price at $40.75
Shares of CU Bancorp (NASDAQ:CUNB) have earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.75.
CUNB has been the subject of a number of research reports. Hovde Group raised their price objective on shares of CU Bancorp from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, January 27th. Piper Jaffray Companies initiated coverage on shares of CU Bancorp in a report on Wednesday, January 18th. They issued an “overweight” rating and a $42.00 price objective for the company. DA Davidson lowered shares of CU Bancorp from a “buy” rating to a “neutral” rating and raised their price objective for the company from $42.00 to $43.00 in a report on Friday, April 7th. FIG Partners lowered shares of CU Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, January 30th. Finally, Zacks Investment Research upgraded shares of CU Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Tuesday, January 10th.
In other CU Bancorp news, CEO David I. Rainer sold 23,333 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $38.32, for a total transaction of $894,120.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth J. Cosgrove sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $36.50, for a total transaction of $547,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,333 shares of company stock valued at $1,638,946. Company insiders own 9.06% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management AG purchased a new position in CU Bancorp during the fourth quarter valued at about $1,735,000. Analytic Investors LLC raised 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 during the last quarter. SG Americas Securities LLC purchased a new position in CU Bancorp during the third quarter valued at about $353,000. Russell Investments Group Ltd. purchased a new position in CU Bancorp during the fourth quarter valued at about $1,000,000. Finally, Penn Capital Management Co. Inc. raised its position 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 during the last quarter. Hedge funds and other institutional investors own 47.95% of the company’s stock.
CU Bancorp (NASDAQ:CUNB) traded up 0.68% during midday trading on Monday, reaching $36.75. 998,411 shares of the company’s stock were exchanged. CU Bancorp has a 1-year low of $21.11 and a 1-year high of $40.30. The firm’s 50-day moving average is $38.44 and its 200 day moving average is $32.89. The stock has a market cap of $642.24 million, a P/E ratio of 24.50 and a beta of 0.67.
CU Bancorp (NASDAQ:CUNB) last issued 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 business earned $28.49 million during the quarter, compared to analyst estimates of $28.47 million. CU Bancorp had a net margin of 23.56% and a return on equity of 8.66%. Equities analysts anticipate that CU Bancorp will post $1.76 earnings per share for the current fiscal year.
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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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