Wells Fargo & Company MN increased its stake in Customers Bancorp, Inc (NYSE:CUBI) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,560 shares of the bank’s stock after buying an additional 7,609 shares during the period. Wells Fargo & Company MN owned about 0.32% of Customers Bancorp worth $3,076,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Customers Bancorp by 26.9% in the fourth quarter. AQR Capital Management LLC now owns 117,754 shares of the bank’s stock worth $4,218,000 after buying an additional 24,934 shares during the period. Guggenheim Capital LLC acquired a new position in shares of Customers Bancorp during the fourth quarter worth $1,402,000. Tudor Investment Corp Et Al acquired a new position in shares of Customers Bancorp during the fourth quarter worth $204,000. Two Sigma Investments LP acquired a new position in shares of Customers Bancorp during the fourth quarter worth $1,904,000. Finally, Public Sector Pension Investment Board raised its position in shares of Customers Bancorp by 12.4% in the fourth quarter. Public Sector Pension Investment Board now owns 20,000 shares of the bank’s stock worth $716,000 after buying an additional 2,200 shares during the period. 89.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Customers Bancorp, Inc (CUBI) opened at 28.57 on Friday. Customers Bancorp, Inc has a 1-year low of $23.80 and a 1-year high of $36.93. The company has a market capitalization of $875.27 million, a P/E ratio of 11.86 and a beta of 0.63. The firm’s 50 day moving average price is $29.65 and its 200-day moving average price is $32.46.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, April 26th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.09. Customers Bancorp had a return on equity of 15.32% and a net margin of 22.34%. The firm had revenue of $62.42 million during the quarter, compared to analysts’ expectations of $66.31 million. During the same period last year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts expect that Customers Bancorp, Inc will post $2.58 EPS for the current year.
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A number of equities analysts have weighed in on CUBI shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 target price on shares of Customers Bancorp in a research report on Thursday, April 27th. Maxim Group reissued a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a research report on Thursday, April 27th. TheStreet raised Customers Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Finally, Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $39.75.
In other news, insider Richard A. Ehst sold 2,970 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $31.20, for a total value of $92,664.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.58% of the company’s stock.
Customers Bancorp Company Profile
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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