First Trust Advisors LP lifted its holdings in shares of Customers Bancorp Inc (NYSE:CUBI) by 25.5% in the third quarter, Holdings Channel reports. The institutional investor owned 62,161 shares of the bank’s stock after buying an additional 12,627 shares during the period. First Trust Advisors LP’s holdings in Customers Bancorp were worth $1,463,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Customers Bancorp by 9.7% in the 2nd quarter. BlackRock Inc. now owns 4,235,667 shares of the bank’s stock valued at $120,210,000 after purchasing an additional 375,171 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Customers Bancorp by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,629,661 shares of the bank’s stock valued at $74,631,000 after purchasing an additional 126,770 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Customers Bancorp by 2.8% in the 2nd quarter. OppenheimerFunds Inc. now owns 452,416 shares of the bank’s stock valued at $12,839,000 after purchasing an additional 12,462 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Customers Bancorp by 20.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 413,123 shares of the bank’s stock valued at $11,725,000 after purchasing an additional 71,118 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. lifted its stake in Customers Bancorp by 4.5% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 408,215 shares of the bank’s stock valued at $11,585,000 after purchasing an additional 17,638 shares during the last quarter. Institutional investors own 79.87% of the company’s stock.
Shares of CUBI stock opened at $18.14 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $571.01 million, a price-to-earnings ratio of 8.25, a P/E/G ratio of 0.71 and a beta of 0.82. Customers Bancorp Inc has a 12-month low of $17.59 and a 12-month high of $32.34.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, October 25th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.03). The company had revenue of $66.09 million for the quarter, compared to analyst estimates of $64.64 million. Customers Bancorp had a return on equity of 13.10% and a net margin of 16.01%. On average, sell-side analysts anticipate that Customers Bancorp Inc will post 2.53 EPS for the current fiscal year.
Several brokerages recently issued reports on CUBI. Maxim Group reiterated a “buy” rating and issued a $46.00 target price on shares of Customers Bancorp in a research note on Tuesday, August 14th. ValuEngine downgraded shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, August 13th. Zacks Investment Research upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Sandler O’Neill set a $27.00 target price on shares of Customers Bancorp and gave the company a “hold” rating in a research note on Monday, September 24th. Finally, B. Riley downgraded shares of Customers Bancorp from a “buy” rating to a “neutral” rating and cut their target price for the company from $29.00 to $23.00 in a research note on Thursday, November 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.33.
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Customers Bancorp 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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