Strs Ohio raised its position in Customers Bancorp Inc (NYSE:CUBI) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,900 shares of the bank’s stock after buying an additional 3,800 shares during the quarter. Strs Ohio’s holdings in Customers Bancorp were worth $797,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CUBI. California Public Employees Retirement System acquired a new position in shares of Customers Bancorp during the first quarter worth $372,000. UBS Group AG lifted its holdings in Customers Bancorp by 124.7% in the first quarter. UBS Group AG now owns 89,062 shares of the bank’s stock valued at $2,597,000 after buying an additional 49,423 shares during the period. Legal & General Group Plc lifted its holdings in Customers Bancorp by 4.5% in the first quarter. Legal & General Group Plc now owns 54,787 shares of the bank’s stock valued at $1,598,000 after buying an additional 2,373 shares during the period. Principal Financial Group Inc. lifted its holdings in Customers Bancorp by 5.2% in the first quarter. Principal Financial Group Inc. now owns 243,728 shares of the bank’s stock valued at $7,105,000 after buying an additional 12,127 shares during the period. Finally, Creative Planning lifted its holdings in Customers Bancorp by 15.5% in the second quarter. Creative Planning now owns 14,904 shares of the bank’s stock valued at $423,000 after buying an additional 2,000 shares during the period. Institutional investors own 81.74% of the company’s stock.
CUBI stock opened at $21.03 on Tuesday. The firm has a market capitalization of $657.15 million, a P/E ratio of 8.47, a PEG ratio of 0.82 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 1.28. Customers Bancorp Inc has a 12-month low of $18.57 and a 12-month high of $32.34.
Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, October 25th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.03). Customers Bancorp had a net margin of 16.01% and a return on equity of 13.10%. The firm had revenue of $66.09 million during the quarter, compared to analyst estimates of $64.64 million. Equities analysts anticipate that Customers Bancorp Inc will post 2.53 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Sandler O’Neill upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, October 15th. ValuEngine lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Maxim Group dropped their target price on shares of Customers Bancorp to $38.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a report on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Customers Bancorp has a consensus rating of “Hold” and an average price target of $32.33.
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About Customers Bancorp
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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