Customers Bancorp, Inc (CUBI) Stake Lowered by JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,150 shares of the bank’s stock after selling 4,200 shares during the period. JPMorgan Chase & Co. owned 0.38% of Customers Bancorp worth $3,802,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Flinton Capital Management LLC grew its position in Customers Bancorp by 176.7% during the second quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after acquiring an additional 2,584 shares during the period. SG Americas Securities LLC purchased a new stake in Customers Bancorp during the second quarter valued at about $123,000. GSA Capital Partners LLP purchased a new stake in Customers Bancorp during the second quarter valued at about $205,000. BNP Paribas Arbitrage SA grew its position in Customers Bancorp by 59.5% during the second quarter. BNP Paribas Arbitrage SA now owns 8,145 shares of the bank’s stock valued at $230,000 after acquiring an additional 3,040 shares during the period. Finally, Aperio Group LLC purchased a new stake in Customers Bancorp during the third quarter valued at about $271,000. 87.79% of the stock is owned by institutional investors and hedge funds.
Customers Bancorp, Inc (CUBI) opened at $26.65 on Wednesday. The company has a market capitalization of $800.65, a PE ratio of 13.81 and a beta of 0.61. Customers Bancorp, Inc has a one year low of $24.75 and a one year high of $36.93. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.09). The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same quarter in the prior year, the firm earned $0.64 EPS.
In other Customers Bancorp news, Director Rick Burkey sold 1,129 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $26.74, for a total transaction of $30,189.46. Following the transaction, the director now owns 40,919 shares in the company, valued at $1,094,174.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert E. Wahlman sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $26.66, for a total value of $1,333,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,129 shares of company stock worth $1,603,489. 8.67% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on the company. B. Riley assumed coverage on Customers Bancorp in a research report on Friday, December 8th. They set a “buy” rating and a $35.00 price target for the company. ValuEngine raised Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Maxim Group reissued a “buy” rating and set a $50.00 price target on shares of Customers Bancorp in a research report on Wednesday, November 22nd. TheStreet downgraded Customers Bancorp from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, BidaskClub downgraded Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Customers Bancorp currently has a consensus rating of “Hold” and a consensus target price of $39.25.
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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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