Customers Bancorp Inc. (CUBI) Position Increased by Swiss National Bank
Swiss National Bank boosted its stake in shares of Customers Bancorp Inc. (NYSE:CUBI) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 41,700 shares of the company’s stock after buying an additional 800 shares during the period. Swiss National Bank owned about 0.15% of Customers Bancorp worth $1,048,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in Customers Bancorp during the first quarter valued at approximately $690,000. Nuveen Asset Management LLC raised its position in Customers Bancorp by 21.1% in the first quarter. Nuveen Asset Management LLC now owns 259,269 shares of the company’s stock valued at $6,126,000 after buying an additional 45,202 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in Customers Bancorp during the second quarter valued at approximately $196,000. Hillcrest Asset Management LLC purchased a new position in Customers Bancorp during the first quarter valued at approximately $9,426,000. Finally, Granahan Investment Management Inc. MA raised its position in Customers Bancorp by 11.8% in the first quarter. Granahan Investment Management Inc. MA now owns 540,907 shares of the company’s stock valued at $12,782,000 after buying an additional 56,907 shares in the last quarter. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
Customers Bancorp Inc. (NYSE:CUBI) traded up 0.16% during midday trading on Tuesday, hitting $24.83. 37,982 shares of the stock were exchanged. The company has a market capitalization of $677.66 million, a P/E ratio of 11.04 and a beta of 0.62. The company’s 50 day moving average is $25.80 and its 200 day moving average is $25.53. Customers Bancorp Inc. has a 1-year low of $21.66 and a 1-year high of $31.63.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. Customers Bancorp had a net margin of 22.25% and a return on equity of 13.73%. During the same period in the prior year, the company posted $0.52 EPS. Analysts predict that Customers Bancorp Inc. will post $2.40 earnings per share for the current fiscal year.
CUBI has been the topic of several recent analyst reports. FBR & Co reissued an “outperform” rating and issued a $32.00 target price on shares of Customers Bancorp in a report on Friday, June 24th. Keefe, Bruyette & Woods decreased their target price on shares of Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating on the stock in a report on Tuesday, September 20th. Finally, Zacks Investment Research lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Customers Bancorp presently has an average rating of “Hold” and an average target price of $31.10.
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 Company operates in the community banking segment. The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers.
Want to see what other hedge funds are holding CUBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Customers Bancorp Inc. (NYSE:CUBI).
Receive News & Ratings for Customers Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.