First Wilshire Securities Management Inc. trimmed its position in shares of Customers Bancorp Inc (NYSE:CUBI) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351,131 shares of the bank’s stock after selling 8,695 shares during the quarter. Customers Bancorp makes up about 2.5% of First Wilshire Securities Management Inc.’s investment portfolio, making the stock its 12th biggest position. First Wilshire Securities Management Inc. owned 1.12% of Customers Bancorp worth $9,126,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CUBI. Dimensional Fund Advisors LP boosted its stake in Customers Bancorp by 8.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock valued at $69,723,000 after acquiring an additional 159,979 shares during the last quarter. BlackRock Inc. boosted its stake in Customers Bancorp by 3.4% in the fourth quarter. BlackRock Inc. now owns 3,767,665 shares of the bank’s stock valued at $97,920,000 after acquiring an additional 124,229 shares during the last quarter. Citadel Advisors LLC boosted its stake in Customers Bancorp by 788.4% in the fourth quarter. Citadel Advisors LLC now owns 81,821 shares of the bank’s stock valued at $2,126,000 after acquiring an additional 72,611 shares during the last quarter. Deutsche Bank AG boosted its stake in Customers Bancorp by 128.6% in the fourth quarter. Deutsche Bank AG now owns 103,509 shares of the bank’s stock valued at $2,688,000 after acquiring an additional 58,225 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake 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 valued at $8,449,000 after acquiring an additional 52,672 shares during the last quarter. 79.58% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Glenn Hedde sold 1,232 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $29.68, for a total transaction of $36,565.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 2,236 shares of company stock worth $66,951. 8.67% of the stock is currently owned by company insiders.
CUBI opened at $28.86 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $924.01, a price-to-earnings ratio of 13.12, a PEG ratio of 1.09 and a beta of 0.80. Customers Bancorp Inc has a twelve month low of $24.75 and a twelve month high of $33.85.
Customers Bancorp (NYSE:CUBI) last posted its earnings results on Wednesday, January 24th. The bank reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.07). The firm had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.02 million. Customers Bancorp had a return on equity of 14.11% and a net margin of 18.64%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. research analysts predict that Customers Bancorp Inc will post 2.7 earnings per share for the current year.
A number of equities analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Customers Bancorp in a research note on Thursday, January 25th. Zacks Investment Research cut shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. DA Davidson assumed coverage on shares of Customers Bancorp in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $33.00 price objective on the stock. Sandler O’Neill reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Customers Bancorp in a research note on Friday, January 26th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Customers Bancorp in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.42.
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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).
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