Municipal Employees Retirement System of Michigan Has $491,000 Position in Customers Bancorp, Inc (CUBI)

Municipal Employees Retirement System of Michigan increased its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 37.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,050 shares of the bank’s stock after acquiring an additional 4,090 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Customers Bancorp were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alps Advisors Inc. lifted its stake in Customers Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 14,590 shares of the bank’s stock valued at $413,000 after purchasing an additional 38 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Customers Bancorp by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the bank’s stock valued at $331,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System lifted its stake in Customers Bancorp by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 15,000 shares of the bank’s stock valued at $424,000 after purchasing an additional 200 shares during the last quarter. Texas Permanent School Fund lifted its stake in Customers Bancorp by 2.0% in the 2nd quarter. Texas Permanent School Fund now owns 21,025 shares of the bank’s stock valued at $595,000 after purchasing an additional 410 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in Customers Bancorp by 2.5% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 17,410 shares of the bank’s stock valued at $549,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

In other news, CFO Robert E. Wahlman sold 50,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total transaction of $1,333,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Richard A. Ehst sold 9,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $26.70, for a total transaction of $240,300.00. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.

Customers Bancorp, Inc (CUBI) traded down $0.30 during mid-day trading on Wednesday, hitting $26.91. 156,100 shares of the stock traded hands, compared to its average volume of 212,835. The company has a market capitalization of $838.23, a P/E ratio of 9.51 and a beta of 0.61. Customers Bancorp, Inc has a 12-month low of $24.75 and a 12-month high of $36.93. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.17 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.09). The business had revenue of $86.05 million for the quarter, compared to the consensus estimate of $80.32 million. Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. During the same period in the previous year, the business posted $0.64 EPS. sell-side analysts expect that Customers Bancorp, Inc will post 2.47 earnings per share for the current year.

Several equities analysts have recently issued reports on CUBI shares. Maxim Group reaffirmed a “buy” rating and set a $50.00 price target on shares of Customers Bancorp in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. BidaskClub downgraded shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, November 10th. TheStreet downgraded shares of Customers Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Finally, Boenning Scattergood downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.50.

ILLEGAL ACTIVITY NOTICE: “Municipal Employees Retirement System of Michigan Has $491,000 Position in Customers Bancorp, Inc (CUBI)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://ledgergazette.com/2017/12/06/municipal-employees-retirement-system-of-michigan-has-491000-position-in-customers-bancorp-inc-cubi-3.html.

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 Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

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).

Institutional Ownership by Quarter for Customers Bancorp (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.

Leave a Reply