Magnetar Financial LLC increased its stake in shares of CU Bancorp (NASDAQ:CUNB) by 43.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,880 shares of the financial services provider’s stock after acquiring an additional 130,243 shares during the quarter. Magnetar Financial LLC owned about 2.43% of CU Bancorp worth $16,785,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CUNB. Legal & General Group Plc raised its stake in CU Bancorp by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 4,097 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 167 shares in the last quarter. Citadel Advisors LLC acquired a new stake in CU Bancorp during the 3rd quarter worth $213,000. Principal Financial Group Inc. acquired a new stake in CU Bancorp during the 2nd quarter worth $253,000. UBS Asset Management Americas Inc. acquired a new stake in CU Bancorp during the 2nd quarter worth $260,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in CU Bancorp during the 2nd quarter worth $271,000. Hedge funds and other institutional investors own 56.35% of the company’s stock.
CU Bancorp (CUNB) opened at $37.50 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.03. CU Bancorp has a one year low of $22.60 and a one year high of $40.30.
Several equities research analysts recently commented on CUNB shares. BidaskClub upgraded shares of CU Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Piper Jaffray Companies reiterated a “buy” rating and set a $42.00 price target on shares of CU Bancorp in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $41.50.
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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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