Why is City Union Bank falling/rising?

As of 02-Jul, City Union Bank Ltd. is currently priced at 222.00, reflecting a decline of 8.35 points or 3.62%. Despite this drop, the stock has shown strong performance over the past week and month, with returns of 11.59% and 12.41%, respectively. The stock recently hit a new 52-week high of Rs. 232.7 but has underperformed its sector today by 2.82%. The stock's recent trend reversal follows two consecutive days of gains, and it reached an intraday low of Rs. 219.65. Additionally, the stock is trading above its moving averages, indicating a generally positive trend, while rising investor participation suggests increased interest, as evidenced by a significant increase in delivery volume.
In the broader market context, City Union Bank's performance has outpaced the benchmark Sensex, which has only gained 0.79% over the past week. The stock's year-to-date return of 28.66% also significantly exceeds the Sensex's 6.75%. However, the stock's high valuation, indicated by a Price to Book Value of 1.7, raises concerns about its sustainability, especially as profits have only increased by 10.6% despite a 33.33% return over the past year. While the bank's strong management efficiency, high capital adequacy ratio, and consistent positive results contribute to its appeal, the expensive valuation may be a factor in the recent price decline.