Bank of New York Mellon Corp reduced its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 406,214 shares of the bank’s stock after selling 12,990 shares during the quarter. Bank of New York Mellon Corp owned 1.32% of Customers Bancorp worth $11,488,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State of Tennessee Treasury Department grew its stake in shares of Customers Bancorp by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 25,893 shares of the bank’s stock valued at $816,000 after buying an additional 3,908 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Customers Bancorp by 57.6% during the second quarter. Bank of Montreal Can now owns 112,842 shares of the bank’s stock valued at $3,191,000 after buying an additional 41,241 shares during the last quarter. Barings LLC bought a new position in shares of Customers Bancorp during the first quarter valued at about $372,000. Nuveen Asset Management LLC grew its stake in shares of Customers Bancorp by 46.2% during the first quarter. Nuveen Asset Management LLC now owns 654,616 shares of the bank’s stock valued at $20,640,000 after buying an additional 206,750 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its stake in shares of Customers Bancorp by 2.0% during the second quarter. Peregrine Capital Management LLC now owns 257,255 shares of the bank’s stock valued at $7,275,000 after buying an additional 5,142 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research analysts have recently issued reports on CUBI shares. Zacks Investment Research raised Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Monday, July 31st. BidaskClub raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price objective on shares of Customers Bancorp in a research note on Friday, June 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Customers Bancorp presently has an average rating of “Buy” and an average target price of $39.50.

Shares of Customers Bancorp, Inc (NYSE:CUBI) opened at 30.61 on Monday. Customers Bancorp, Inc has a 1-year low of $24.37 and a 1-year high of $36.93. The company has a market capitalization of $940.65 million, a PE ratio of 12.52 and a beta of 0.65. The company has a 50 day moving average price of $28.49 and a 200 day moving average price of $29.51.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.78 EPS for the quarter, beating the consensus estimate of $0.62 by $0.16. The company had revenue of $68.62 million for the quarter, compared to the consensus estimate of $67.14 million. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Equities analysts predict that Customers Bancorp, Inc will post $2.67 EPS 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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Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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