Northern Trust Corp trimmed its holdings in shares of Customers Bancorp Inc (NYSE:CUBI) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,875 shares of the bank’s stock after selling 8,088 shares during the period. Northern Trust Corp owned 1.19% of Customers Bancorp worth $6,877,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Customers Bancorp by 3.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 380,615 shares of the bank’s stock worth $8,957,000 after purchasing an additional 12,315 shares during the period. BlackRock Inc. boosted its position in Customers Bancorp by 3.3% during the 3rd quarter. BlackRock Inc. now owns 4,374,667 shares of the bank’s stock worth $102,936,000 after purchasing an additional 139,000 shares during the period. Panagora Asset Management Inc. purchased a new stake in Customers Bancorp during the 3rd quarter worth $1,068,000. Dimensional Fund Advisors LP boosted its position in Customers Bancorp by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,660,288 shares of the bank’s stock worth $62,596,000 after purchasing an additional 30,627 shares during the period. Finally, MetLife Investment Advisors LLC boosted its position in Customers Bancorp by 54.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,925 shares of the bank’s stock worth $492,000 after purchasing an additional 7,365 shares during the period. 77.47% of the stock is owned by institutional investors and hedge funds.
NYSE:CUBI opened at $22.88 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $680.53 million, a price-to-earnings ratio of 9.00, a PEG ratio of 0.97 and a beta of 0.84. Customers Bancorp Inc has a 1-year low of $16.72 and a 1-year high of $32.34.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 24th. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $64.38 million. Customers Bancorp had a net margin of 15.03% and a return on equity of 12.82%. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. As a group, sell-side analysts expect that Customers Bancorp Inc will post 2.25 earnings per share for the current fiscal year.
In other Customers Bancorp news, VP Steven Issa sold 6,926 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total value of $141,844.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 1,276 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $21.65, for a total transaction of $27,625.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,004 shares of company stock valued at $337,759. 7.71% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on CUBI. ValuEngine raised shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday. B. Riley raised shares of Customers Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $23.00 to $30.00 in a research report on Thursday, April 11th. Boenning Scattergood reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Friday, January 25th. Zacks Investment Research raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Maxim Group set a $38.00 price target on shares of Customers Bancorp and gave the stock a “buy” rating in a research report on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Customers Bancorp currently has an average rating of “Buy” and an average target price of $29.95.
Customers Bancorp Profile
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.
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