Assenagon Asset Management S.A. Has $14.61 Million Stock Holdings in Customers Bancorp, Inc (NYSE:CUBI)

Assenagon Asset Management S.A. lessened its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 291,036 shares of the bank's stock after selling 129,730 shares during the quarter. Assenagon Asset Management S.A. owned 0.92% of Customers Bancorp worth $14,610,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management increased its stake in shares of Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after purchasing an additional 189 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Customers Bancorp during the 4th quarter worth $46,000. Smartleaf Asset Management LLC increased its stake in shares of Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after purchasing an additional 1,255 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock worth $95,000 after purchasing an additional 403 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after purchasing an additional 254 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. B. Riley raised their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Customers Bancorp has an average rating of "Moderate Buy" and an average price target of $64.00.

Customers Bancorp Price Performance

Shares of CUBI stock traded up $0.33 on Tuesday, reaching $50.93. The company had a trading volume of 219,089 shares, compared to its average volume of 353,028. The stock has a market capitalization of $1.61 billion, a PE ratio of 12.83 and a beta of 1.53. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.76. Customers Bancorp, Inc has a one year low of $40.75 and a one year high of $68.49. The business's 50-day moving average is $50.26 and its 200 day moving average is $51.14.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. The firm had revenue of $194.28 million during the quarter, compared to analysts' expectations of $165.24 million. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. During the same quarter in the prior year, the business earned $1.68 earnings per share. Equities research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.