Systematic Financial Management LP Takes Position in Customers Bancorp, Inc (CUBI)
Systematic Financial Management LP purchased a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 58,440 shares of the bank’s stock, valued at approximately $1,653,000. Systematic Financial Management LP owned approximately 0.19% of Customers Bancorp as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Customers Bancorp in the second quarter worth $123,000. BNP Paribas Arbitrage SA boosted its position in shares of Customers Bancorp by 10.4% in the first quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock worth $161,000 after buying an additional 479 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Customers Bancorp by 8.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock worth $158,000 after buying an additional 450 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Customers Bancorp by 80.2% in the second quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock worth $159,000 after buying an additional 2,517 shares during the period. Finally, US Bancorp DE boosted its position in shares of Customers Bancorp by 8.3% in the first quarter. US Bancorp DE now owns 5,890 shares of the bank’s stock worth $186,000 after buying an additional 450 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.
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CUBI has been the subject of several recent analyst reports. Zacks Investment Research cut Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub cut Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 target price on shares of Customers Bancorp in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Customers Bancorp has an average rating of “Hold” and an average price target of $39.50.
Shares of Customers Bancorp, Inc (NYSE:CUBI) opened at 28.60 on Friday. Customers Bancorp, Inc has a one year low of $24.37 and a one year high of $36.93. The stock has a market capitalization of $878.88 million, a price-to-earnings ratio of 11.70 and a beta of 0.65. The company’s 50 day moving average price is $28.48 and its 200 day moving average price is $29.66.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.16. The firm had revenue of $68.62 million during the quarter, compared to analyst estimates of $67.14 million. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. On average, analysts expect that Customers Bancorp, Inc will post $2.67 earnings per share for the current fiscal year.
About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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