First Trust Advisors LP acquired a new position in shares of Customers Bancorp Inc. (NYSE:CUBI) during the second quarter, Holdings Channel reports. The institutional investor acquired 33,727 shares of the company’s stock, valued at approximately $848,000. First Trust Advisors LP owned about 0.12% of Customers Bancorp as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in CUBI. 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 during 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 during 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 during the last quarter. 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 during the last quarter. Finally, Eagle Boston Investment Management Inc. increased its stake in Customers Bancorp by 3.0% in the second quarter. Eagle Boston Investment Management Inc. now owns 415,245 shares of the company’s stock worth $10,435,000 after buying an additional 12,145 shares during the last quarter. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Shares of Customers Bancorp Inc. (NYSE:CUBI) traded down 0.20% on Friday, hitting $24.97. The company had a trading volume of 110,648 shares. 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 PE ratio of 11.10 and a beta of 0.61. The company has a 50-day moving average of $25.69 and a 200 day moving average of $25.53.
Customers Bancorp (NYSE:CUBI) last posted its earnings results on Wednesday, July 20th. The company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. Customers Bancorp had a net margin of 22.25% and a return on equity of 13.73%. During the same period in the previous year, the business posted $0.52 earnings per share. Analysts anticipate that Customers Bancorp Inc. will post $2.40 EPS for the current fiscal year.
Several brokerages recently issued reports on CUBI. FBR & Co restated an “outperform” rating and set a $32.00 price objective on shares of Customers Bancorp in a research report on Friday, June 24th. Zacks Investment Research downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods cut their price objective on Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating for the company in a research report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.10.
About Customers Bancorp
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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