BNP Paribas Arbitrage SA bought a new position in Customers Bancorp Inc. (NYSE:CUBI) during the second quarter, Holdings Channel reports. The firm bought 7,817 shares of the company’s stock, valued at approximately $196,000.
Several other hedge funds have also made changes to their positions in CUBI. Hillcrest Asset Management LLC acquired a new stake in shares of Customers Bancorp during the first quarter worth about $9,426,000. Bloom Tree Partners LLC raised its stake in shares of 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. Columbia Partners L L C Investment Management acquired a new stake in shares of Customers Bancorp during the first quarter worth about $1,978,000. Granahan Investment Management Inc. MA raised its stake in shares of 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, Nuveen Asset Management LLC raised its stake in shares of Customers Bancorp by 21.1% in the first quarter. Nuveen Asset Management LLC now owns 259,269 shares of the company’s stock worth $6,126,000 after buying an additional 45,202 shares during the last quarter. 84.77% of the stock is currently owned by institutional investors and hedge funds.
Customers Bancorp Inc. (NYSE:CUBI) traded down 0.58% during trading on Friday, hitting $25.66. The stock had a trading volume of 59,888 shares. The company has a market cap of $700.31 million, a PE ratio of 11.41 and a beta of 0.60. The stock has a 50-day moving average price of $26.10 and a 200-day moving average price of $25.48. Customers Bancorp Inc. has a 52 week low of $21.66 and a 52 week high of $31.63.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 firm earned $0.52 earnings per share. Equities analysts predict that Customers Bancorp Inc. will post $2.39 EPS for the current year.
CUBI has been the topic of a number of analyst reports. FBR & Co reaffirmed an “outperform” rating and set a $32.00 target price on shares of Customers Bancorp in a research report on Friday, June 24th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Keefe, Bruyette & Woods lowered their price objective on Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating for the company in a report on Tuesday, September 20th. One research 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 company presently has a consensus rating of “Hold” and a consensus target price 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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