Advisors Asset Management Inc. decreased its position in Customers Bancorp Inc. (NYSE:CUBI) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,187 shares of the company’s stock after selling 249 shares during the period. Advisors Asset Management Inc.’s holdings in Customers Bancorp were worth $256,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in Customers Bancorp by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 1,620,721 shares of the company’s stock worth $40,729,000 after buying an additional 25,352 shares in the last quarter. Bloom Tree Partners LLC increased its stake in Customers Bancorp by 76.3% in the first quarter. Bloom Tree Partners LLC now owns 733,852 shares of the company’s stock worth $17,341,000 after buying an additional 317,711 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Customers Bancorp by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 648,234 shares of the company’s stock worth $15,318,000 after buying an additional 3,289 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Customers Bancorp by 48.0% in the second quarter. Bank of New York Mellon Corp now owns 585,245 shares of the company’s stock worth $14,707,000 after buying an additional 189,746 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its stake in Customers Bancorp by 11.8% in the first quarter. Granahan Investment Management Inc. MA now owns 540,907 shares of the company’s stock worth $12,782,000 after buying an additional 56,907 shares in the last quarter. Institutional investors own 84.77% of the company’s stock.
Shares of Customers Bancorp Inc. (NYSE:CUBI) traded down 0.91% on Monday, hitting $24.93. The stock had a trading volume of 51,401 shares. Customers Bancorp Inc. has a one year low of $21.66 and a one year high of $31.63. The company has a market capitalization of $680.39 million, a P/E ratio of 11.08 and a beta of 0.62. The firm has a 50 day moving average price of $25.84 and a 200 day moving average price of $25.50.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.60. Customers Bancorp had a return on equity of 13.73% and a net margin of 22.25%. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts predict that Customers Bancorp Inc. will post $2.40 earnings per share for the current fiscal year.
CUBI has been the topic of a number of research reports. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15th. FBR & Co reaffirmed an “outperform” rating and set a $32.00 target price on shares of Customers Bancorp in a research report on Friday, June 24th. Finally, Keefe, Bruyette & Woods cut their target price on Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.10.
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 Company operates in the community banking segment. The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers.
Want to see what other hedge funds are holding CUBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Customers Bancorp Inc. (NYSE:CUBI).
Receive News & Ratings for Customers Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.