Systematic Financial Management LP Decreases Stake in Customers Bancorp, Inc (CUBI)
Systematic Financial Management LP lowered its position in Customers Bancorp, Inc (NYSE:CUBI) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,365 shares of the bank’s stock after selling 3,075 shares during the period. Systematic Financial Management LP owned 0.18% of Customers Bancorp worth $1,806,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CUBI. UBS Asset Management Americas Inc. grew its stake in shares of Customers Bancorp by 52.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 10,400 shares of the bank’s stock worth $328,000 after buying an additional 3,600 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Customers Bancorp by 7.1% in the 1st quarter. Teachers Advisors LLC now owns 69,276 shares of the bank’s stock worth $2,184,000 after buying an additional 4,621 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Customers Bancorp by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 1,451,753 shares of the bank’s stock worth $45,774,000 after buying an additional 83,233 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Customers Bancorp by 30.4% in the 1st quarter. Geode Capital Management LLC now owns 250,663 shares of the bank’s stock worth $7,903,000 after buying an additional 58,440 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Customers Bancorp by 10.7% in the 1st quarter. Morgan Stanley now owns 150,392 shares of the bank’s stock worth $4,742,000 after buying an additional 14,481 shares during the last quarter. Institutional investors own 89.16% of the company’s stock.
Shares of Customers Bancorp, Inc (CUBI) opened at $26.64 on Friday. 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, Inc has a 52 week low of $24.75 and a 52 week high of $36.93. The company has a market capitalization of $820.67, a price-to-earnings ratio of 9.31 and a beta of 0.63.
Customers Bancorp (NYSE:CUBI) last issued its earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.09). Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. The business had revenue of $86.05 million for the quarter, compared to analysts’ expectations of $80.32 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. equities research analysts anticipate that Customers Bancorp, Inc will post 2.47 earnings per share for the current year.
CUBI has been the topic of several recent research reports. TheStreet downgraded Customers Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, October 24th. BidaskClub upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Boenning Scattergood downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating in a research note on Friday, October 20th. Finally, Maxim Group reiterated a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Customers Bancorp has an average rating of “Hold” and a consensus price target of $40.50.
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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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