Wedge Capital Management L L P NC reduced its stake in shares of Customers Bancorp Inc. (NYSE:CUBI) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 304,578 shares of the company’s stock after selling 4,862 shares during the period. Wedge Capital Management L L P NC’s holdings in Customers Bancorp were worth $7,654,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Barclays PLC purchased a new stake in Customers Bancorp during the first quarter valued at $690,000. BNP Paribas Arbitrage SA purchased a new stake in Customers Bancorp during the second quarter valued at $196,000. ClariVest Asset Management LLC purchased a new stake in Customers Bancorp during the second quarter valued at $1,902,000. Nuveen Asset Management LLC raised its stake in Customers Bancorp by 21.1% in the first quarter. Nuveen Asset Management LLC now owns 259,269 shares of the company’s stock valued at $6,126,000 after buying an additional 45,202 shares during the period. Finally, Hillcrest Asset Management LLC purchased a new stake in Customers Bancorp during the first quarter valued at $9,426,000. 84.74% of the stock is currently owned by institutional investors.
Customers Bancorp Inc. (NYSE:CUBI) traded down 0.57% during mid-day trading on Monday, hitting $24.49. The company had a trading volume of 51,949 shares. Customers Bancorp Inc. has a one year low of $21.66 and a one year high of $31.63. The company’s 50 day moving average price is $25.57 and its 200-day moving average price is $25.56. The company has a market cap of $668.38 million, a PE ratio of 10.89 and a beta of 0.62.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, meeting the 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 in the prior year, the company posted $0.52 EPS. Equities research analysts anticipate that Customers Bancorp Inc. will post $2.40 EPS for the current fiscal year.
Several analysts have weighed in on CUBI shares. FBR & Co reissued an “outperform” rating and issued a $32.00 target price on shares of Customers Bancorp in a report on Friday, June 24th. Keefe, Bruyette & Woods lowered 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 lowered Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. 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. The company presently has a consensus rating of “Hold” and a consensus price target of $31.10.
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 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.