Concurrent Investment Advisors LLC Invests $267,000 in Customers Bancorp, Inc (NYSE:CUBI)

Concurrent Investment Advisors LLC acquired a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 5,319 shares of the bank's stock, valued at approximately $267,000.

Other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management lifted its holdings in Customers Bancorp by 47.7% in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Customers Bancorp during the fourth quarter valued at approximately $46,000. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 403 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after acquiring an additional 254 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Customers Bancorp during the fourth quarter worth $202,000. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Trading Up 0.8%

Shares of Customers Bancorp stock traded up $0.50 on Wednesday, reaching $62.84. The company had a trading volume of 308,426 shares, compared to its average volume of 354,000. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 15.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.96. The firm's 50-day moving average price is $55.29 and its two-hundred day moving average price is $52.31. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $68.49.

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

Analyst Ratings Changes

A number of brokerages have issued reports on CUBI. B. Riley lifted their price target on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen cut Customers Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Finally, Keefe, Bruyette & Woods increased their price target on Customers Bancorp from $65.00 to $70.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $65.33.

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.