First Trust Advisors LP grew its stake in Customers Bancorp Inc (NYSE:CUBI) by 734.5% during the fourth quarter, HoldingsChannel reports. The fund owned 52,184 shares of the bank’s stock after purchasing an additional 45,931 shares during the quarter. First Trust Advisors LP’s holdings in Customers Bancorp were worth $1,356,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of CUBI. Piedmont Investment Advisors LLC bought a new position in Customers Bancorp in the 3rd quarter worth about $205,000. SG Americas Securities LLC grew its stake in Customers Bancorp by 69.7% in the 3rd quarter. SG Americas Securities LLC now owns 7,400 shares of the bank’s stock worth $241,000 after acquiring an additional 3,039 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Customers Bancorp in the 3rd quarter worth about $241,000. Teacher Retirement System of Texas bought a new position in Customers Bancorp in the 4th quarter worth about $263,000. Finally, Aperio Group LLC bought a new position in Customers Bancorp in the 3rd quarter worth about $271,000. Institutional investors and hedge funds own 79.58% of the company’s stock.
A number of equities analysts have commented on CUBI shares. Maxim Group restated a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a research note on Friday, January 26th. B. Riley restated a “buy” rating and issued a $41.00 target price on shares of Customers Bancorp in a research note on Thursday, January 25th. ValuEngine upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, February 8th. Finally, Sandler O’Neill restated a “hold” rating and issued a $33.00 target price on shares of Customers Bancorp in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $37.67.
Customers Bancorp stock opened at $28.99 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.96 and a current ratio of 1.23. Customers Bancorp Inc has a one year low of $24.75 and a one year high of $33.85. The stock has a market cap of $911.42, a P/E ratio of 14.72, a PEG ratio of 1.07 and a beta of 0.77.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). Customers Bancorp had a net margin of 18.64% and a return on equity of 14.11%. The business had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.02 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. Customers Bancorp’s revenue for the quarter was up 6.6% on a year-over-year basis. analysts predict that Customers Bancorp Inc will post 2.7 EPS for the current year.
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Customers Bancorp Profile
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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