TIAA CREF Investment Management LLC bought a new position in Commerce Union Bancshares, Inc. (NASDAQ:CUBN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,228 shares of the bank’s stock, valued at approximately $435,000. TIAA CREF Investment Management LLC owned approximately 0.23% of Commerce Union Bancshares at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of Commerce Union Bancshares in the 2nd quarter worth approximately $470,000. Teachers Advisors LLC acquired a new position in shares of Commerce Union Bancshares in the 2nd quarter worth approximately $289,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Commerce Union Bancshares in the 2nd quarter worth approximately $280,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Commerce Union Bancshares by 599.5% in the 2nd quarter. Wells Fargo & Company MN now owns 5,106 shares of the bank’s stock worth $122,000 after buying an additional 4,376 shares in the last quarter. 17.57% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on CUBN. Keefe, Bruyette & Woods assumed coverage on Commerce Union Bancshares in a report on Friday, September 29th. They issued a “market perform” rating and a $24.00 target price for the company. Hovde Group assumed coverage on Commerce Union Bancshares in a research report on Wednesday, October 11th. They set an “outperform” rating and a $26.50 price target on the stock. Finally, ValuEngine lowered Commerce Union Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th.
Commerce Union Bancshares (NASDAQ:CUBN) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. The business had revenue of $11.18 million for the quarter. Commerce Union Bancshares had a return on equity of 7.12% and a net margin of 18.50%.
Commerce Union Bancshares Profile
Commerce Union Bancshares, Inc serves as the bank holding company for Reliant Bank. The Company has two segments: Retail Banking and Residential Mortgage Banking. Retail Banking provides deposit and lending services to consumer and business customers within its primary geographic markets. Its customers are serviced through branch locations, automated teller machines (ATMs), online banking and mobile banking.
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