75,680 Shares in Customers Bancorp Inc. (CUBI) Acquired by ClariVest Asset Management LLC
ClariVest Asset Management LLC acquired a new position in shares of Customers Bancorp Inc. (NYSE:CUBI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 75,680 shares of the company’s stock, valued at approximately $1,902,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Customers Bancorp by 620.3% in the first quarter. Royal Bank of Canada now owns 4,725 shares of the company’s stock worth $111,000 after buying an additional 4,069 shares during the last quarter. BNP Paribas Arbitrage SA bought a new position in Customers Bancorp during the second quarter worth $196,000. Capstone Asset Management Co. bought a new position in Customers Bancorp during the second quarter worth $206,000. Menta Capital LLC bought a new position in Customers Bancorp during the first quarter worth $235,000. Finally, Louisiana State Employees Retirement System bought a new position in Customers Bancorp during the second quarter worth $279,000. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
Customers Bancorp Inc. (NYSE:CUBI) traded up 0.40% during mid-day trading on Wednesday, reaching $25.19. The company’s stock had a trading volume of 24,888 shares. The firm’s 50 day moving average is $25.66 and its 200-day moving average is $25.57. The company has a market cap of $687.49 million, a PE ratio of 11.20 and a beta of 0.61. Customers Bancorp Inc. has a 12-month low of $21.66 and a 12-month high of $31.63.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Customers Bancorp had a return on equity of 13.73% and a net margin of 22.25%. During the same period last year, the firm earned $0.52 EPS. Equities analysts anticipate that Customers Bancorp Inc. will post $2.40 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on CUBI. Zacks Investment Research cut Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. FBR & Co reissued an “outperform” rating and issued a $32.00 price target on shares of Customers Bancorp in a report on Friday, June 24th. Finally, Keefe, Bruyette & Woods lowered their price target on Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating on the stock in a report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target 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.
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