Cornerstone Capital Management Holdings LLC. lowered its position in Customers Bancorp, Inc (NYSE:CUBI) by 30.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,634 shares of the bank’s stock after selling 78,300 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.58% of Customers Bancorp worth $5,079,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Flinton Capital Management LLC lifted its position in Customers Bancorp by 176.7% in the second quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after purchasing an additional 2,584 shares during the period. SG Americas Securities LLC acquired a new stake in Customers Bancorp in the second quarter valued at about $123,000. BNP Paribas Arbitrage SA lifted its position in Customers Bancorp by 10.4% in the first quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock valued at $161,000 after purchasing an additional 479 shares during the period. Nisa Investment Advisors LLC lifted its position in Customers Bancorp by 8.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock valued at $158,000 after purchasing an additional 450 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Customers Bancorp by 80.2% in the second quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock valued at $159,000 after purchasing an additional 2,517 shares during the period. Hedge funds and other institutional investors own 87.56% of the company’s stock.
Customers Bancorp, Inc (NYSE CUBI) opened at 33.05 on Friday. Customers Bancorp, Inc has a one year low of $24.48 and a one year high of $36.93. The stock has a market capitalization of $1.02 billion, a PE ratio of 13.52 and a beta of 0.67. The firm has a 50-day moving average of $30.14 and a 200-day moving average of $29.50.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.16. The company had revenue of $68.62 million during the quarter, compared to analyst estimates of $67.14 million. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. On average, equities research analysts forecast that Customers Bancorp, Inc will post $2.54 earnings per share for the current year.
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A number of research analysts have issued reports on the stock. BidaskClub raised shares of Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 29th. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Monday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 target price on shares of Customers Bancorp in a report on Friday, June 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.50.
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 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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