Two Sigma Investments LP raised its stake in shares of Customers Bancorp (NYSE:CUBI) by 108.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,761 shares of the bank’s stock after purchasing an additional 10,302 shares during the period. Two Sigma Investments LP’s holdings in Customers Bancorp were worth $514,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CUBI. SG Americas Securities LLC boosted its position in shares of Customers Bancorp by 69.7% in the third quarter. SG Americas Securities LLC now owns 7,400 shares of the bank’s stock valued at $241,000 after acquiring an additional 3,039 shares during the period. Wells Fargo & Company MN boosted its position in shares of Customers Bancorp by 9.9% in the third quarter. Wells Fargo & Company MN now owns 132,204 shares of the bank’s stock valued at $4,313,000 after acquiring an additional 11,926 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of 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 period. Dimensional Fund Advisors LP boosted 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 valued at $69,723,000 after acquiring an additional 159,979 shares during the period. Finally, OxFORD Asset Management LLP bought a new stake in shares of Customers Bancorp in the third quarter valued at approximately $734,000. Institutional investors own 79.58% of the company’s stock.
CUBI has been the subject of several research reports. B. Riley reissued a “buy” rating and issued a $41.00 price objective on shares of Customers Bancorp in a research report on Thursday, January 25th. DA Davidson initiated coverage on Customers Bancorp in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $33.00 price objective for the company. Maxim Group reissued a “buy” rating and issued a $50.00 price objective on shares of Customers Bancorp in a research report on Friday, January 26th. Zacks Investment Research cut Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Customers Bancorp in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.42.
In related news, insider Glenn Hedde sold 1,232 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $29.68, for a total value of $36,565.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 2,236 shares of company stock valued at $66,951. 8.67% of the stock is owned by company insiders.
Shares of CUBI stock opened at $29.22 on Friday. The firm has a market capitalization of $932.49, a P/E ratio of 13.28, a PEG ratio of 1.10 and a beta of 0.80. Customers Bancorp has a one year low of $24.75 and a one year high of $33.85. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.23 and a quick ratio of 0.96.
Customers Bancorp (NYSE:CUBI) last issued its 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). The firm had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.02 million. Customers Bancorp had a return on equity of 14.11% and a net margin of 18.64%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. sell-side analysts predict that Customers Bancorp will post 2.7 earnings per share for the current fiscal year.
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Customers Bancorp Company 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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