Bank of America Corp DE Trims Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Bank of America Corp DE lowered its position in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 64.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,529 shares of the bank's stock after selling 86,997 shares during the quarter. Bank of America Corp DE owned about 0.15% of Customers Bancorp worth $2,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Barclays PLC grew its holdings in shares of Customers Bancorp by 46.9% during the 3rd quarter. Barclays PLC now owns 89,879 shares of the bank's stock valued at $4,175,000 after purchasing an additional 28,683 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Customers Bancorp by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock valued at $272,000 after acquiring an additional 333 shares during the last quarter. KBC Group NV boosted its holdings in Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after acquiring an additional 677 shares during the period. R Squared Ltd purchased a new position in Customers Bancorp in the 4th quarter worth approximately $42,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Customers Bancorp by 46.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank's stock worth $13,621,000 after purchasing an additional 90,451 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Trading Up 0.6%

Shares of NYSE CUBI traded up $0.32 during midday trading on Thursday, hitting $51.06. 57,313 shares of the company traded hands, compared to its average volume of 283,545. Customers Bancorp, Inc. has a 12-month low of $40.75 and a 12-month high of $68.49. The firm has a market cap of $1.61 billion, a P/E ratio of 10.05 and a beta of 1.51. The stock has a 50-day moving average price of $49.29 and a 200 day moving average price of $51.42. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. The company had revenue of $194.28 million during the quarter, compared to analysts' expectations of $165.24 million. During the same quarter last year, the business posted $1.68 EPS. As a group, analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CUBI shares. Wall Street Zen cut shares of Customers Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Finally, B. Riley increased their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $64.00.

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.