CU Bancorp (CUNB) Shares Bought by Gabelli Funds LLC
Gabelli Funds LLC lifted its position in CU Bancorp (NASDAQ:CUNB) by 84.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 236,205 shares of the financial services provider’s stock after buying an additional 107,944 shares during the quarter. Gabelli Funds LLC owned approximately 1.35% of CU Bancorp worth $9,159,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CUNB. Bank of New York Mellon Corp raised its holdings in shares of CU Bancorp by 11.0% in the 1st quarter. Bank of New York Mellon Corp now owns 78,553 shares of the financial services provider’s stock valued at $3,114,000 after buying an additional 7,769 shares during the period. American International Group Inc. raised its holdings in shares of CU Bancorp by 7.2% in the 1st quarter. American International Group Inc. now owns 10,005 shares of the financial services provider’s stock valued at $397,000 after buying an additional 669 shares during the period. Alliancebernstein L.P. raised its holdings in shares of CU Bancorp by 64.1% in the 1st quarter. Alliancebernstein L.P. now owns 35,340 shares of the financial services provider’s stock valued at $1,401,000 after buying an additional 13,800 shares during the period. Teachers Advisors LLC raised its holdings in shares of CU Bancorp by 6.0% in the 1st quarter. Teachers Advisors LLC now owns 36,964 shares of the financial services provider’s stock valued at $1,466,000 after buying an additional 2,081 shares during the period. Finally, California Public Employees Retirement System grew its stake in CU Bancorp by 58.3% during the 1st quarter. California Public Employees Retirement System now owns 24,700 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 9,100 shares in the last quarter. Hedge funds and other institutional investors own 56.35% of the company’s stock.
CUNB has been the subject of several analyst reports. BidaskClub raised CU Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 target price on shares of CU Bancorp in a research note on Monday, August 14th. Finally, Zacks Investment Research cut CU Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.50.
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CU Bancorp (CUNB) opened at $37.50 on Friday. CU Bancorp has a one year low of $22.60 and a one year high of $40.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.03.
CU Bancorp 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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