Market Overview

UPDATE: D.A. Davidson & Co. Upgrades CU Bancorp, Believes Cost Savings Will Drive EPS Accretion

Share:
Related CUNB
CU Bancorp Q1 Profit Rises 53.8%
Larry Sallinger Joins California United Bank

In a research note released Monday, D.A. Davidson & Co. analyst Gary P. Tenner upgraded CU Bancorp (NYSE: CUNB) to Buy and set the price target at $22.00.

CU Bancorp is acquiring 1st Enterprise Bank for $103.4 million; D.A. Davidson believes that this adds scale and drives profitability metrics. The deal is a 100 percent stock transaction with FENB shareholders, who will be receiving 1.345 shares of CU Bancorp.

Additionally, the firm believes that cost savings will drive earnings per share accretion.

Shares of CU Bancorp are neutral at $1851 on Wednesday.

Latest Ratings for CUNB

DateFirmActionFromTo
Nov 2016Keefe Bruyette & WoodsUpgradesMarket PerformOutperform
Feb 2016Fig PartnersUpgradesMarket PerformOutperform
Oct 2015Hovde GroupDowngradesOutperformMarket Perform

View More Analyst Ratings for CUNB
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co. Gary P. TennerAnalyst Color Upgrades Analyst Ratings

 

Related Articles (CUNB)

View Comments and Join the Discussion!