California Public Employees Retirement System decreased its stake in shares of CU Bancorp (NASDAQ:CUNB) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,800 shares of the financial services provider’s stock after selling 900 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of CU Bancorp worth $860,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CUNB. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in CU Bancorp during the 2nd quarter worth about $10,364,000. Context BH Capital Management LP increased its holdings in shares of CU Bancorp by 405.9% in the 2nd quarter. Context BH Capital Management LP now owns 318,397 shares of the financial services provider’s stock valued at $11,510,000 after acquiring an additional 255,465 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of CU Bancorp in the 2nd quarter valued at about $4,371,000. Vanguard Group Inc. increased its holdings in shares of CU Bancorp by 18.0% in the 2nd quarter. Vanguard Group Inc. now owns 731,408 shares of the financial services provider’s stock valued at $26,440,000 after acquiring an additional 111,527 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of CU Bancorp by 166.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 177,045 shares of the financial services provider’s stock valued at $6,400,000 after acquiring an additional 110,682 shares during the last quarter. Institutional investors own 56.35% of the company’s stock.
CU Bancorp (NASDAQ:CUNB) opened at $37.50 on Wednesday. CU Bancorp has a 1-year low of $22.60 and a 1-year high of $40.30. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03.
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A number of research analysts have recently commented on CUNB shares. BidaskClub upgraded CU Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Piper Jaffray Companies reiterated a “buy” rating and issued a $42.00 price objective on shares of CU Bancorp in a report on Monday, August 14th. Finally, Zacks Investment Research downgraded CU Bancorp from a “buy” rating to a “hold” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.50.
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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