Prudential Financial Inc. lowered its position in Customers Bancorp Inc. (NYSE:CUBI) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 432,150 shares of the company’s stock after selling 6,100 shares during the period. Prudential Financial Inc. owned approximately 1.58% of Customers Bancorp worth $10,860,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. 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. BNP Paribas Arbitrage SA purchased a new stake in shares of Customers Bancorp during the second quarter worth about $196,000. Capstone Asset Management Co. purchased a new stake in shares of Customers Bancorp during the second quarter worth about $206,000. Menta Capital LLC purchased a new stake in shares of Customers Bancorp during the first quarter worth about $235,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Customers Bancorp during the second quarter worth about $279,000. 84.77% of the stock is owned by institutional investors and hedge funds.
Shares of Customers Bancorp Inc. (NYSE:CUBI) traded up 1.61% on Wednesday, reaching $25.17. 12,655 shares of the company’s stock traded hands. Customers Bancorp Inc. has a 52 week low of $21.66 and a 52 week high of $31.63. The stock’s 50-day moving average price is $25.76 and its 200-day moving average price is $25.53. The stock has a market capitalization of $686.94 million, a price-to-earnings ratio of 11.19 and a beta of 0.61.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, meeting 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 prior year, the business posted $0.52 earnings per share. Equities analysts predict that Customers Bancorp Inc. will post $2.40 EPS for the current year.
CUBI has been the subject of a number of analyst reports. FBR & Co set a $32.00 price objective on shares of Customers Bancorp and gave the company a “buy” rating in a report on Thursday, July 21st. Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating for the company in a research note on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Customers Bancorp presently has a consensus 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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