Elkfork Partners LLC purchased a new position in Customers Bancorp Inc (NYSE:CUBI) in the fourth quarter, HoldingsChannel reports. The fund purchased 4,620 shares of the bank’s stock, valued at approximately $120,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of CUBI. Dimensional Fund Advisors LP lifted its position in shares of Customers Bancorp by 8.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock worth $69,723,000 after purchasing an additional 159,979 shares in the last quarter. BlackRock Inc. increased its holdings in Customers Bancorp by 3.4% in the fourth quarter. BlackRock Inc. now owns 3,767,665 shares of the bank’s stock worth $97,920,000 after buying an additional 124,229 shares during the last quarter. Citadel Advisors LLC increased its holdings in Customers Bancorp by 788.4% in the fourth quarter. Citadel Advisors LLC now owns 81,821 shares of the bank’s stock worth $2,126,000 after buying an additional 72,611 shares during the last quarter. Deutsche Bank AG increased its holdings in Customers Bancorp by 128.6% in the fourth quarter. Deutsche Bank AG now owns 103,509 shares of the bank’s stock worth $2,688,000 after buying an additional 58,225 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Customers Bancorp by 25.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 258,986 shares of the bank’s stock worth $8,449,000 after buying an additional 52,672 shares during the last quarter. 79.58% of the stock is owned by institutional investors and hedge funds.
In other Customers Bancorp news, insider Glenn Hedde sold 1,232 shares of the 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 is accessible through the SEC website. In the last quarter, insiders have sold 2,236 shares of company stock worth $66,951. Corporate insiders own 8.67% of the company’s stock.
NYSE:CUBI opened at $28.86 on Friday. 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 company has a market capitalization of $924.01, a P/E ratio of 13.12, a PEG ratio of 1.09 and a beta of 0.80.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.55 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $67.02 million. During the same quarter last year, the business earned $0.62 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts anticipate 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 restated a “hold” rating and issued a $33.00 price objective on shares of Customers Bancorp in a report on Friday, January 26th. DA Davidson assumed coverage on Customers Bancorp in a report on Wednesday, February 14th. They issued a “neutral” rating and a $33.00 price objective on the stock. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. B. Riley restated a “buy” rating and issued a $41.00 price objective on shares of Customers Bancorp in a report on Thursday, January 25th. Finally, Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Customers Bancorp has an average rating of “Hold” and a consensus target price of $37.42.
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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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