CU Bancorp (CUNB) Rating Increased to Hold at Zacks Investment Research
CU Bancorp (NASDAQ:CUNB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “CU Bancorp is a bank holding company for California United Bank, N.A. The Bank provides business and personal deposit services, cash management, lending services, international banking services, investment services, and private banking services. CU Bancorp is headquartered in Encino, California. “
Shares of CU Bancorp (NASDAQ:CUNB) opened at 24.18 on Tuesday. The firm has a market cap of $417.93 million, a P/E ratio of 17.78 and a beta of 0.53. The company has a 50-day moving average of $24.33 and a 200 day moving average of $23.08. CU Bancorp has a 12-month low of $20.35 and a 12-month high of $27.66.
CU Bancorp (NASDAQ:CUNB) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. CU Bancorp had a net margin of 22.88% and a return on equity of 8.42%. Equities research analysts anticipate that CU Bancorp will post $1.48 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Lebenthal Holdings LLC acquired a new stake in shares of CU Bancorp during the second quarter valued at about $202,000. Panagora Asset Management Inc. increased its position in shares of CU Bancorp by 13.8% in the second quarter. Panagora Asset Management Inc. now owns 98,239 shares of the financial services provider’s stock valued at $2,233,000 after buying an additional 11,898 shares during the last quarter. Banc Funds Co. LLC increased its position in shares of CU Bancorp by 6.2% in the second quarter. Banc Funds Co. LLC now owns 1,195,881 shares of the financial services provider’s stock valued at $27,182,000 after buying an additional 70,267 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new position in shares of CU Bancorp during the second quarter valued at about $1,729,000. Finally, State Street Corp increased its position in shares of CU Bancorp by 12.5% in the second quarter. State Street Corp now owns 246,788 shares of the financial services provider’s stock valued at $5,609,000 after buying an additional 27,413 shares during the last quarter. 47.41% of the stock is currently owned by institutional investors.
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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