Wellington Management Group LLP boosted its stake in shares of CU Bancorp (NASDAQ:CUNB) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,636,976 shares of the financial services provider’s stock after buying an additional 101,814 shares during the period. Wellington Management Group LLP owned approximately 9.78% of CU Bancorp worth $34,655,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of CU Bancorp by 2.9% in the first quarter. Geode Capital Management LLC now owns 81,033 shares of the financial services provider’s stock valued at $1,715,000 after buying an additional 2,284 shares during the period. State Street Corp increased its position in shares of CU Bancorp by 1.7% in the first quarter. State Street Corp now owns 219,375 shares of the financial services provider’s stock valued at $4,644,000 after buying an additional 3,767 shares during the period. JPMorgan Chase & Co. increased its position in shares of CU Bancorp by 27,857.2% in the first quarter. JPMorgan Chase & Co. now owns 58,151 shares of the financial services provider’s stock valued at $1,231,000 after buying an additional 57,943 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of CU Bancorp by 10.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 161,008 shares of the financial services provider’s stock valued at $3,409,000 after buying an additional 15,050 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of CU Bancorp by 7.3% in the first quarter. TIAA CREF Investment Management LLC now owns 78,343 shares of the financial services provider’s stock valued at $1,659,000 after buying an additional 5,349 shares during the period.
CU Bancorp (NASDAQ:CUNB) remained flat at $23.62 during trading on Wednesday. The stock had a trading volume of 19,057 shares. CU Bancorp has a 52 week low of $20.35 and a 52 week high of $27.66. The company has a market capitalization of $403.34 million and a PE ratio of 18.17. The company has a 50-day moving average price of $23.25 and a 200-day moving average price of $22.53.
Separately, Zacks Investment Research raised shares of CU Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, March 30th.
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.
