First Wilshire Securities Management Inc. decreased its holdings in Customers Bancorp Inc (NYSE:CUBI) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 351,131 shares of the bank’s stock after selling 8,695 shares during the period. Customers Bancorp accounts for about 2.5% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 12th biggest holding. First Wilshire Securities Management Inc.’s holdings in Customers Bancorp were worth $9,126,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CUBI. The Manufacturers Life Insurance Company boosted its stake in shares of Customers Bancorp by 9.2% in the second quarter. The Manufacturers Life Insurance Company now owns 20,786 shares of the bank’s stock worth $588,000 after acquiring an additional 1,751 shares during the period. Aperio Group LLC bought a new position in Customers Bancorp during the third quarter valued at approximately $271,000. Crossmark Global Holdings Inc. bought a new position in Customers Bancorp during the third quarter valued at approximately $301,000. Prudential Financial Inc. boosted its stake in Customers Bancorp by 5.0% during the third quarter. Prudential Financial Inc. now owns 469,620 shares of the bank’s stock valued at $15,319,000 after buying an additional 22,190 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Customers Bancorp by 103.4% during the third quarter. BNP Paribas Arbitrage SA now owns 16,564 shares of the bank’s stock valued at $540,000 after buying an additional 8,419 shares during the last quarter. 79.64% of the stock is owned by hedge funds and other institutional investors.
In other Customers Bancorp news, insider Glenn Hedde sold 1,232 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $29.68, for a total transaction of $36,565.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 2,236 shares of company stock worth $66,951. Company insiders own 8.67% of the company’s stock.
Shares of Customers Bancorp Inc (NYSE:CUBI) opened at $31.59 on Thursday. Customers Bancorp Inc has a 52-week low of $24.75 and a 52-week high of $33.85. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.96 and a current ratio of 1.23. The stock has a market capitalization of $990.66, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.17 and a beta of 0.77.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Customers Bancorp had a net margin of 18.64% and a return on equity of 14.11%. The company had revenue of $68.30 million for the quarter, compared to analysts’ expectations of $67.02 million. During the same quarter last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. equities research analysts predict that Customers Bancorp Inc will post 2.7 EPS for the current year.
A number of equities analysts recently commented on the company. Sandler O’Neill reissued a “hold” rating and set a $33.00 price target on shares of Customers Bancorp in a research note on Friday, January 26th. Maxim Group reissued a “buy” rating and set a $50.00 price target on shares of Customers Bancorp in a research note on Friday, January 26th. Boenning Scattergood reissued a “hold” rating on shares of Customers Bancorp in a research note on Friday, January 26th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Finally, B. Riley reissued a “buy” rating and set a $41.00 price target on shares of Customers Bancorp in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Customers Bancorp presently has a consensus rating of “Hold” and a consensus price target of $37.67.
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About Customers Bancorp
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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