Customers Bancorp, Inc $CUBI Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Customers Bancorp by 9.8%, selling 47,871 shares and now holds about 1.40% of the company worth $22.16 million.
• Customers Bancorp reported earnings of $1.80 per share, exceeding analysts' expectations by $0.30, with revenues of $206.31 million for the quarter.
• Analysts have raised their target prices for Customers Bancorp, with several firms giving the stock a "buy" rating, reflecting positive sentiment about its performance.

Charles Schwab Investment Management Inc. reduced its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 441,416 shares of the bank's stock after selling 47,871 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.40% of Customers Bancorp worth $22,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Customers Bancorp by 3.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after acquiring an additional 270 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Customers Bancorp by 27.2% in the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Customers Bancorp by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank's stock valued at $820,000 after purchasing an additional 645 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Customers Bancorp during the fourth quarter worth $46,000. Finally, Twinbeech Capital LP lifted its position in shares of Customers Bancorp by 1.4% in the 4th quarter. Twinbeech Capital LP now owns 75,363 shares of the bank's stock worth $3,669,000 after buying an additional 1,052 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CUBI shares. Keefe, Bruyette & Woods boosted their price objective on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. Stephens lifted their target price on Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. B. Riley upped their target price on Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, DA Davidson boosted their price objective on Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Customers Bancorp presently has an average rating of "Moderate Buy" and an average target price of $69.25.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI traded up $3.2790 during trading hours on Friday, hitting $68.7290. The stock had a trading volume of 413,174 shares, compared to its average volume of 335,304. The stock's fifty day simple moving average is $62.04 and its 200 day simple moving average is $54.82. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.01 and a beta of 1.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $69.42.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.The business had revenue of $206.31 million during the quarter, compared to the consensus estimate of $170.81 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp 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.