Wells Fargo & Company MN Boosts Stake in Customers Bancorp, Inc (NYSE:CUBI)

Wells Fargo & Company MN grew its stake in Customers Bancorp, Inc (NYSE:CUBI) by 23.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,278 shares of the bank’s stock after purchasing an additional 22,718 shares during the period. Wells Fargo & Company MN owned approximately 0.39% of Customers Bancorp worth $3,401,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Customers Bancorp by 68,969.6% during the 1st quarter. BlackRock Inc. now owns 3,487,325 shares of the bank’s stock worth $109,954,000 after acquiring an additional 3,482,276 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Customers Bancorp by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,920 shares of the bank’s stock worth $52,842,000 after acquiring an additional 263,321 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Customers Bancorp by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 1,451,753 shares of the bank’s stock worth $45,774,000 after acquiring an additional 83,233 shares during the last quarter. State Street Corp lifted its stake in shares of Customers Bancorp by 43.3% during the 1st quarter. State Street Corp now owns 1,036,453 shares of the bank’s stock worth $32,681,000 after acquiring an additional 313,181 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Customers Bancorp by 46.2% during the 1st quarter. Nuveen Asset Management LLC now owns 654,616 shares of the bank’s stock worth $20,640,000 after acquiring an additional 206,750 shares during the last quarter. 87.82% of the stock is owned by institutional investors and hedge funds.

Shares of Customers Bancorp, Inc (NYSE CUBI) traded down 1.22% during trading on Friday, hitting $28.30. The stock had a trading volume of 33,275 shares. The stock’s 50-day moving average is $31.07 and its 200-day moving average is $29.59. Customers Bancorp, Inc has a 12-month low of $24.68 and a 12-month high of $36.93. The stock has a market cap of $869.66 million, a price-to-earnings ratio of 11.57 and a beta of 0.67.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.09). Customers Bancorp had a net margin of 19.75% and a return on equity of 15.54%. The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities research analysts expect that Customers Bancorp, Inc will post $2.54 EPS for the current year.

A number of brokerages have weighed in on CUBI. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 target price on shares of Customers Bancorp in a research report on Friday, June 30th. BidaskClub lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Monday, July 31st. Boenning Scattergood downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. Finally, Maxim Group restated a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Customers Bancorp presently has a consensus rating of “Buy” and a consensus target price of $40.50.

COPYRIGHT VIOLATION NOTICE: “Wells Fargo & Company MN Boosts Stake in Customers Bancorp, Inc (NYSE:CUBI)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/27/wells-fargo-company-mn-has-3-40-million-holdings-in-customers-bancorp-inc-cubi.html.

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).

Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

Receive News & Ratings for Customers Bancorp Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply