Assenagon Asset Management S.A. Sells 129,730 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Assenagon Asset Management S.A. cut its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 30.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 291,036 shares of the bank’s stock after selling 129,730 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Customers Bancorp were worth $14,610,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Hood River Capital Management LLC increased its position in shares of Customers Bancorp by 40.1% during the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock valued at $71,606,000 after purchasing an additional 421,335 shares during the last quarter. American Century Companies Inc. increased its position in shares of Customers Bancorp by 5.9% during the 4th quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock valued at $37,667,000 after purchasing an additional 42,965 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Customers Bancorp by 33.1% during the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock valued at $20,912,000 after purchasing an additional 106,895 shares during the last quarter. Northern Trust Corp increased its position in shares of Customers Bancorp by 19.1% during the 4th quarter. Northern Trust Corp now owns 381,684 shares of the bank’s stock valued at $18,580,000 after purchasing an additional 61,224 shares during the last quarter. Finally, Tieton Capital Management LLC increased its position in shares of Customers Bancorp by 22.9% during the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank’s stock valued at $14,135,000 after purchasing an additional 54,170 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Trading Down 3.2%

Shares of CUBI stock opened at $50.22 on Friday. Customers Bancorp, Inc. has a 1-year low of $40.75 and a 1-year high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The business has a 50-day moving average of $50.03 and a 200 day moving average of $51.26. The stock has a market capitalization of $1.59 billion, a PE ratio of 9.89 and a beta of 1.53.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. The business had revenue of $194.28 million during the quarter, compared to analysts’ expectations of $165.24 million. During the same quarter last year, the business posted $1.68 EPS. As a group, sell-side analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. B. Riley increased their price objective on Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Wall Street Zen upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, Keefe, Bruyette & Woods dropped their target price on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.