Systematic Financial Management LP raised its stake in Customers Bancorp Inc. (NYSE:CUBI) by 13.8% during the second quarter, Holdings Channel reports. The institutional investor owned 71,050 shares of the company’s stock after buying an additional 8,630 shares during the period. Systematic Financial Management LP owned about 0.26% of Customers Bancorp worth $1,785,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its position 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 valued at $111,000 after buying an additional 4,069 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Customers Bancorp during the second quarter valued at approximately $196,000. Capstone Asset Management Co. acquired a new position in shares of Customers Bancorp during the second quarter valued at approximately $206,000. Menta Capital LLC acquired a new position in shares of Customers Bancorp during the first quarter valued at approximately $235,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Customers Bancorp during the second quarter valued at approximately $279,000. 84.77% of the stock is currently owned by institutional investors.
Shares of Customers Bancorp Inc. (NYSE:CUBI) traded up 0.70% during mid-day trading on Thursday, reaching $25.72. 19,366 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $26.09 and a 200 day moving average price of $25.47. Customers Bancorp Inc. has a 52-week low of $21.66 and a 52-week high of $31.63. The firm has a market cap of $701.95 million, a P/E ratio of 11.44 and a beta of 0.60.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.60 earnings per share (EPS) 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 EPS. Analysts forecast that Customers Bancorp Inc. will post $2.39 earnings per share for the current fiscal year.
Several analysts recently issued reports on CUBI shares. Zacks Investment Research lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. FBR & Co reiterated an “outperform” rating and set a $32.00 price target on shares of Customers Bancorp in a research report on Friday, June 24th. Keefe, Bruyette & Woods reduced their price target 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. Finally, TheStreet lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target 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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