Customers Bancorp, Inc $CUBI Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC cut its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 32.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,343 shares of the bank’s stock after selling 8,327 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Customers Bancorp were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Customers Bancorp by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock valued at $162,424,000 after acquiring an additional 66,031 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Customers Bancorp by 7.9% in the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after acquiring an additional 69,200 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Customers Bancorp by 5.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 421,852 shares of the bank’s stock valued at $31,428,000 after purchasing an additional 23,129 shares during the period. Tidal Investments LLC grew its holdings in Customers Bancorp by 13.9% in the third quarter. Tidal Investments LLC now owns 343,979 shares of the bank’s stock valued at $22,486,000 after purchasing an additional 41,997 shares during the period. Finally, Millennium Management LLC increased its position in Customers Bancorp by 448.8% during the third quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after purchasing an additional 268,056 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

CUBI has been the subject of several research analyst reports. Morgan Stanley dropped their price target on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen cut shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Stephens raised shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target for the company in a report on Monday, March 16th. Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Maxim Group set a $100.00 price target on Customers Bancorp in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Customers Bancorp Trading Down 4.0%

Customers Bancorp stock opened at $74.16 on Tuesday. The company has a market cap of $2.50 billion, a P/E ratio of 9.41 and a beta of 1.52. Customers Bancorp, Inc has a 1 year low of $49.54 and a 1 year high of $82.56. The firm’s 50-day moving average is $71.73 and its 200-day moving average is $72.24. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.Customers Bancorp’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 earnings per share. On average, equities analysts expect that Customers Bancorp, Inc will post 8.52 earnings per share for the current year.

Customers Bancorp declared that its board has approved a stock repurchase program on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to reacquire up to 4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Customers Bancorp Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.