Emerald Mutual Fund Advisers Trust decreased its stake in shares of Customers Bancorp Inc. (NYSE:CUBI) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,622 shares of the company’s stock after selling 84,609 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Customers Bancorp were worth $11,550,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Boston Advisors LLC bought a new stake in shares of Customers Bancorp during the second quarter valued at $6,526,000. Louisiana State Employees Retirement System bought a new stake in shares of Customers Bancorp during the second quarter valued at $279,000. Bank of Montreal Can bought a new stake in shares of Customers Bancorp during the second quarter valued at $3,438,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of Customers Bancorp during the second quarter valued at $352,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Customers Bancorp during the second quarter valued at $390,000. 84.77% of the stock is currently owned by institutional investors and hedge funds.
Customers Bancorp Inc. (NYSE:CUBI) traded up 1.17% on Wednesday, hitting $25.06. The stock had a trading volume of 108,134 shares. The firm’s 50-day moving average price is $25.76 and its 200-day moving average price is $25.53. The firm has a market cap of $683.94 million, a P/E ratio of 11.14 and a beta of 0.61. Customers Bancorp Inc. has a 1-year low of $21.66 and a 1-year high of $31.63.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Customers Bancorp had a return on equity of 13.73% and a net margin of 22.25%. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts predict that Customers Bancorp Inc. will post $2.40 earnings per share for the current year.
Several equities research analysts have weighed in on the company. FBR & Co set a $32.00 target price on Customers Bancorp and gave the stock a “buy” rating in a research report on Thursday, July 21st. Keefe, Bruyette & Woods dropped their target price on Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 20th. Finally, Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average 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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