Customers Bancorp, Inc (CUBI) Shares Sold by Emerald Mutual Fund Advisers Trust
Emerald Mutual Fund Advisers Trust reduced its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 18.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 522,330 shares of the bank’s stock after selling 121,335 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 1.70% of Customers Bancorp worth $17,038,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Customers Bancorp by 2.8% during the 2nd quarter. BlackRock Inc. now owns 3,584,410 shares of the bank’s stock valued at $101,365,000 after purchasing an additional 97,085 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Customers Bancorp by 18.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,977,458 shares of the bank’s stock valued at $55,924,000 after purchasing an additional 301,538 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Customers Bancorp by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,502,298 shares of the bank’s stock valued at $42,485,000 after purchasing an additional 50,545 shares during the last quarter. State Street Corp increased its position in shares of Customers Bancorp by 7.6% during the 2nd quarter. State Street Corp now owns 1,114,816 shares of the bank’s stock valued at $31,530,000 after purchasing an additional 78,363 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Customers Bancorp by 5.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,088,572 shares of the bank’s stock valued at $30,785,000 after purchasing an additional 51,360 shares during the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). The firm had revenue of $86.05 million during the quarter, compared to analysts’ expectations of $80.32 million. Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. During the same quarter in the previous year, the firm posted $0.64 EPS.
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Several equities analysts have recently commented on the company. Maxim Group reiterated a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research report on Thursday, October 26th. BidaskClub upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Boenning Scattergood lowered Customers Bancorp from an “outperform” rating to a “neutral” rating in a research report on Friday, October 20th. Finally, Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $40.50.
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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