First Wilshire Securities Management Inc. Trims Stock Position in Customers Bancorp, Inc $CUBI

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

First Wilshire Securities Management Inc. trimmed its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,900 shares of the bank's stock after selling 5,000 shares during the period. First Wilshire Securities Management Inc.'s holdings in Customers Bancorp were worth $246,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Customers Bancorp in the 4th quarter worth about $46,000. GAMMA Investing LLC boosted its holdings in Customers Bancorp by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock worth $95,000 after buying an additional 403 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after buying an additional 254 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Customers Bancorp in the 4th quarter worth about $202,000. Finally, EP Wealth Advisors LLC acquired a new stake in Customers Bancorp in the 4th quarter worth about $205,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Customers Bancorp Price Performance

CUBI traded up $3.2790 during trading on Friday, reaching $68.7290. The company's stock had a trading volume of 413,174 shares, compared to its average volume of 316,916. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $62.04 and a two-hundred day simple moving average of $54.79. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $69.42. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 17.01 and a beta of 1.59.

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