Concurrent Investment Advisors LLC Makes New Investment in Customers Bancorp, Inc (NYSE:CUBI)

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

A number of other institutional investors and hedge funds also recently modified their holdings of CUBI. Picton Mahoney Asset Management raised its holdings in shares of Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after purchasing an additional 189 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Customers Bancorp in the 4th quarter valued at about $46,000. GAMMA Investing LLC raised its holdings in shares of Customers Bancorp by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after purchasing an additional 403 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after purchasing an additional 254 shares during the period. Finally, Hsbc Holdings PLC bought a new position in Customers Bancorp in the 4th quarter valued at about $202,000. 89.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. B. Riley increased 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. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $65.00 to $70.00 and gave the stock a "market perform" rating in a research note on Friday. Finally, Wall Street Zen lowered Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Customers Bancorp currently has an average rating of "Hold" and a consensus price target of $65.33.

Customers Bancorp Stock Performance

Shares of CUBI traded up $0.01 during mid-day trading on Monday, hitting $63.48. 21,815 shares of the company's stock were exchanged, compared to its average volume of 354,140. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $68.49. The stock's 50-day simple moving average is $54.79 and its 200-day simple moving average is $52.13. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 15.99 and a beta of 1.55. 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 (NYSE:CUBI - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $165.24 million. During the same period last year, the firm earned $1.68 earnings per share. On average, equities research analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current 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.