Nationwide Fund Advisors raised its stake in Customers Bancorp Inc. (NYSE:CUBI) by 22.2% during the second quarter, Holdings Channel reports. The fund owned 135,886 shares of the company’s stock after buying an additional 24,719 shares during the period. Nationwide Fund Advisors owned about 0.50% of Customers Bancorp worth $3,415,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its stake 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 during the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Customers Bancorp during the second quarter valued at approximately $196,000. Capstone Asset Management Co. bought a new stake in shares of Customers Bancorp during the second quarter valued at approximately $206,000. Menta Capital LLC bought a new stake in shares of Customers Bancorp during the first quarter valued at approximately $235,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Customers Bancorp during the second quarter valued at approximately $279,000. 84.77% of the stock is owned by hedge funds and other institutional investors.
Customers Bancorp Inc. (NYSE:CUBI) traded down 0.92% during trading on Thursday, hitting $24.83. The company’s stock had a trading volume of 17,516 shares. The firm has a market cap of $677.66 million, a P/E ratio of 11.04 and a beta of 0.61. Customers Bancorp Inc. has a 12 month low of $21.66 and a 12 month high of $31.63. The firm has a 50 day moving average of $25.73 and a 200 day moving average of $25.53.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, hitting the Zacks’ 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 period last year, the company posted $0.52 EPS. Equities research analysts predict that Customers Bancorp Inc. will post $2.40 earnings per share for the current year.
Several analysts recently commented on CUBI shares. FBR & Co set a $32.00 target price on Customers Bancorp and gave the company a “buy” rating in a report on Thursday, July 21st. Keefe, Bruyette & Woods reduced their target price on Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating on the stock in a report on Tuesday, September 20th. Finally, Zacks Investment Research cut Customers Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Customers Bancorp has an average 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.
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).
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.