Zacks Investment Research upgraded shares of CU Bancorp (NASDAQ:CUNB) from a sell rating to a hold rating in a research note published on Wednesday.

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. “

Shares of CU Bancorp (NASDAQ:CUNB) opened at 24.29 on Wednesday. The company’s 50-day moving average price is $24.29 and its 200-day moving average price is $23.06. The stock has a market cap of $419.83 million, a PE ratio of 17.86 and a beta of 0.53. CU Bancorp has a 52-week low of $20.35 and a 52-week high of $27.66.

CU Bancorp (NASDAQ:CUNB) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. CU Bancorp had a return on equity of 8.42% and a net margin of 22.88%. On average, equities research analysts forecast that CU Bancorp will post $1.48 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Lebenthal Asset Management LLC acquired a new stake in CU Bancorp during the second quarter worth $202,000. Lebenthal Holdings LLC acquired a new stake in CU Bancorp during the second quarter worth $202,000. Deere & Co. boosted 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 during the last quarter. First Trust Advisors LP boosted its stake in CU Bancorp by 6.0% in the second quarter. First Trust Advisors LP now owns 17,298 shares of the financial services provider’s stock worth $393,000 after buying an additional 985 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in CU Bancorp during the second quarter worth $407,000. 47.41% 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.

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