Eagle Boston Investment Management Inc. lifted its holdings in Customers Bancorp Inc (NYSE:CUBI) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,663 shares of the bank’s stock after acquiring an additional 16,679 shares during the quarter. Eagle Boston Investment Management Inc. owned approximately 1.21% of Customers Bancorp worth $9,893,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Customers Bancorp by 2.8% in the 2nd quarter. BlackRock Inc. now owns 3,584,410 shares of the bank’s stock worth $101,365,000 after acquiring an additional 97,085 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Customers Bancorp by 8.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock worth $69,723,000 after buying an additional 159,979 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Customers Bancorp by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,502,298 shares of the bank’s stock worth $42,485,000 after buying an additional 50,545 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Customers Bancorp by 3.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock worth $45,913,000 after buying an additional 46,459 shares in the last quarter. Finally, State Street Corp lifted its holdings in Customers Bancorp by 7.6% during the 2nd quarter. State Street Corp now owns 1,114,816 shares of the bank’s stock worth $31,530,000 after buying an additional 78,363 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors and hedge funds.
Customers Bancorp Inc (NYSE:CUBI) opened at $30.00 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $935.83, a price-to-earnings ratio of 15.23 and a beta of 0.75. Customers Bancorp Inc has a 1-year low of $24.75 and a 1-year high of $35.60.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). The company had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.02 million. Customers Bancorp had a net margin of 18.64% and a return on equity of 14.11%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. equities analysts expect that Customers Bancorp Inc will post 2.75 earnings per share for the current year.
Several research firms have issued reports on CUBI. DA Davidson began coverage on Customers Bancorp in a report on Wednesday. They set a “neutral” rating and a $33.00 price objective on the stock. Zacks Investment Research raised Customers Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, February 8th. Sandler O’Neill reaffirmed a “hold” rating and set a $33.00 price objective on shares of Customers Bancorp in a report on Friday, January 26th. Maxim Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a report on Thursday, October 26th. Finally, BidaskClub downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.67.
In other news, CFO Robert E. Wahlman sold 50,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.66, for a total value of $1,333,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rick Burkey sold 1,129 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $26.74, for a total value of $30,189.46. Following the completion of the transaction, the director now directly owns 40,919 shares in the company, valued at approximately $1,094,174.06. The disclosure for this sale can be found here. In the last three months, insiders sold 60,635 shares of company stock worth $1,618,750. 8.67% of the stock is currently owned by company insiders.
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Customers Bancorp Profile
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).
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