Alps Advisors Inc. cut its position in shares of Customers Bancorp Inc. (NYSE:CUBI) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,493 shares of the company’s stock after selling 1,213 shares during the period. Alps Advisors Inc.’s holdings in Customers Bancorp were worth $414,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA acquired a new stake in shares of Customers Bancorp during the second quarter worth approximately $196,000. Hillcrest Asset Management LLC acquired a new stake in shares of Customers Bancorp during the first quarter worth approximately $9,426,000. Royal Bank of Canada raised its stake in shares of Customers Bancorp by 620.3% in the first quarter. Royal Bank of Canada now owns 4,725 shares of the company’s stock worth $111,000 after buying an additional 4,069 shares in the last quarter. Barclays PLC acquired a new stake in shares of Customers Bancorp during the first quarter worth approximately $690,000. Finally, Aristotle Capital Boston LLC raised its stake in shares of Customers Bancorp by 6.3% in the first quarter. Aristotle Capital Boston LLC now owns 343,257 shares of the company’s stock worth $8,111,000 after buying an additional 20,423 shares in the last quarter. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
Customers Bancorp Inc. (NYSE:CUBI) traded down 0.20% during mid-day trading on Friday, reaching $24.97. 110,648 shares of the company’s stock traded hands. Customers Bancorp Inc. has a 12 month low of $21.66 and a 12 month high of $31.63. The stock has a market cap of $681.48 million, a P/E ratio of 11.10 and a beta of 0.61. The company has a 50 day moving average price of $25.69 and a 200-day moving average price of $25.53.
Customers Bancorp (NYSE:CUBI) last released its earnings results on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Customers Bancorp had a net margin of 22.25% and a return on equity of 13.73%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, analysts anticipate that Customers Bancorp Inc. will post $2.40 EPS for the current year.
A number of analysts have recently commented on CUBI shares. FBR & Co set a $32.00 price objective on shares of Customers Bancorp and gave the stock a “buy” rating in a research report on Thursday, July 21st. Keefe, Bruyette & Woods cut their price objective on shares of 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. Finally, Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target 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.
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