Zacks Investment Research upgraded shares of CU Bancorp (NASDAQ:CUNB) from a sell rating to a hold rating in a research note published on Thursday.
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. “
Separately, Hovde Group raised shares of CU Bancorp from a market perform rating to an outperform rating and raised their price target for the company from $24.75 to $26.00 in a report on Friday, October 7th.
Shares of CU Bancorp (NASDAQ:CUNB) opened at 27.90 on Thursday. The company’s 50 day moving average price is $24.29 and its 200 day moving average price is $23.77. CU Bancorp has a one year low of $20.35 and a one year high of $28.20. The stock has a market capitalization of $483.42 million, a price-to-earnings ratio of 19.77 and a beta of 0.52.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its stake in CU Bancorp by 30.8% in the third quarter. BlackRock Advisors LLC now owns 6,501 shares of the financial services provider’s stock worth $148,000 after buying an additional 1,531 shares in the last quarter. Lebenthal Asset Management LLC acquired a new stake in CU Bancorp during the second quarter worth approximately $202,000. Lebenthal Holdings LLC acquired a new stake in CU Bancorp during the second quarter worth approximately $202,000. Deere & Co. raised its stake in CU Bancorp by 17.6% in the second quarter. Deere & Co. now owns 12,501 shares of the financial services provider’s stock worth $284,000 after buying an additional 1,872 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in CU Bancorp during the third quarter worth approximately $353,000. 47.97% of the stock is owned by hedge funds and other 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.