Customers Bancorp, Inc (CUBI) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. raised its stake in Customers Bancorp, Inc (NYSE:CUBI) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,451,753 shares of the bank’s stock after buying an additional 83,233 shares during the period. Vanguard Group Inc.’s holdings in Customers Bancorp were worth $45,774,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in Customers Bancorp by 10.4% in the first quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock worth $161,000 after buying an additional 479 shares during the period. US Bancorp DE increased its stake in Customers Bancorp by 8.3% in the first quarter. US Bancorp DE now owns 5,890 shares of the bank’s stock worth $186,000 after buying an additional 450 shares during the period. Creative Planning increased its stake in Customers Bancorp by 8.1% in the first quarter. Creative Planning now owns 6,543 shares of the bank’s stock worth $206,000 after buying an additional 489 shares during the period. LaSalle Street Capital Management LLC purchased a new stake in Customers Bancorp during the first quarter worth $206,000. Finally, Mason Street Advisors LLC increased its stake in Customers Bancorp by 8.2% in the first quarter. Mason Street Advisors LLC now owns 6,658 shares of the bank’s stock worth $210,000 after buying an additional 504 shares during the period. 87.82% of the stock is owned by hedge funds and other institutional investors.
Shares of Customers Bancorp, Inc (CUBI) traded down 1.20% on Friday, hitting $27.98. The stock had a trading volume of 194,703 shares. Customers Bancorp, Inc has a one year low of $24.37 and a one year high of $36.93. The stock has a market capitalization of $859.83 million, a PE ratio of 11.44 and a beta of 0.63. The firm’s 50 day moving average is $28.62 and its 200-day moving average is $30.78.
Customers Bancorp (NYSE:CUBI) last released its earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.16. Customers Bancorp had a return on equity of 15.93% and a net margin of 22.81%. The business had revenue of $68.62 million for the quarter, compared to analyst estimates of $67.14 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. Customers Bancorp’s revenue was up 9.9% on a year-over-year basis. Equities research analysts expect that Customers Bancorp, Inc will post $2.65 earnings per share for the current fiscal year.
CUBI has been the subject of a number of recent research reports. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $37.00 price target on shares of Customers Bancorp in a research note on Thursday, April 27th. BidaskClub downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Maxim Group reaffirmed a “buy” rating and set a $50.00 price target on shares of Customers Bancorp in a research note on Thursday, April 27th. Finally, TheStreet raised Customers Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $39.50.
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 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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