CU Bancorp (CUNB) Raised to Outperform at Raymond James Financial, Inc.

Raymond James Financial, Inc. upgraded shares of CU Bancorp (NASDAQ:CUNB) from a mkt perform rating to an outperform rating in a report published on Monday morning, StockTargetPrices.com reports.

Several other research analysts also recently weighed in on CUNB. Piper Jaffray Companies initiated coverage on shares of CU Bancorp in a report on Wednesday, January 18th. They set an overweight rating and a $42.00 price objective on the stock. Hovde Group upped their price objective on shares of CU Bancorp from $37.00 to $39.00 and gave the stock an outperform rating in a report on Friday, January 27th. FIG Partners downgraded shares of CU Bancorp from an outperform rating to a market perform rating in a report on Monday, January 30th. Finally, DA Davidson downgraded shares of CU Bancorp from a buy rating to a neutral rating and upped their price objective for the stock from $42.00 to $43.00 in a report on Friday, April 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $40.75.

Shares of CU Bancorp (NASDAQ:CUNB) traded up 1.25% during midday trading on Monday, reaching $36.45. 20,034 shares of the company’s stock traded hands. The company has a 50 day moving average of $37.93 and a 200 day moving average of $34.97. CU Bancorp has a 52-week low of $22.00 and a 52-week high of $40.30. The firm has a market cap of $638.68 million, a PE ratio of 23.37 and a beta of 0.67.

CU Bancorp (NASDAQ:CUNB) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. CU Bancorp had a net margin of 23.56% and a return on equity of 8.66%. The firm had revenue of $29.03 million for the quarter, compared to the consensus estimate of $28.83 million. On average, equities analysts predict that CU Bancorp will post $1.78 EPS for the current fiscal year.

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In other news, Director Daniel F. Selleck sold 2,500 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $39.53, for a total value of $98,825.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David I. Rainer sold 23,333 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $38.32, for a total transaction of $894,120.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,333 shares of company stock valued at $1,091,446. 9.06% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CUNB. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. State Street Corp increased its stake in shares of CU Bancorp by 9.1% in the fourth quarter. State Street Corp now owns 273,460 shares of the financial services provider’s stock valued at $9,790,000 after buying an additional 22,834 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of CU Bancorp by 3.2% in the first quarter. Renaissance Technologies LLC now owns 210,000 shares of the financial services provider’s stock valued at $8,327,000 after buying an additional 6,500 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of CU Bancorp during the first quarter valued at approximately $6,633,000. Institutional investors own 47.95% of the company’s stock.

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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