Customers Bancorp, Inc $CUBI Shares Sold by First Wilshire Securities Management Inc.

Key Points

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First Wilshire Securities Management Inc. lessened its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 50.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,900 shares of the bank's stock after selling 5,000 shares during the quarter. First Wilshire Securities Management Inc.'s holdings in Customers Bancorp were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in shares of Customers Bancorp by 34.3% in the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock valued at $177,349,000 after purchasing an additional 902,406 shares during the last quarter. Algert Global LLC increased its holdings in shares of Customers Bancorp by 185.4% in the first quarter. Algert Global LLC now owns 94,549 shares of the bank's stock valued at $4,746,000 after purchasing an additional 61,422 shares during the last quarter. Raymond James Financial Inc. increased its stake in Customers Bancorp by 95.2% during the first quarter. Raymond James Financial Inc. now owns 101,999 shares of the bank's stock worth $5,120,000 after acquiring an additional 49,755 shares during the last quarter. American Century Companies Inc. increased its stake in Customers Bancorp by 7.3% during the first quarter. American Century Companies Inc. now owns 830,023 shares of the bank's stock worth $41,667,000 after acquiring an additional 56,251 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its stake in Customers Bancorp by 99.5% during the first quarter. Fox Run Management L.L.C. now owns 22,481 shares of the bank's stock worth $1,129,000 after acquiring an additional 11,215 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Trading Up 1.0%

Shares of NYSE CUBI opened at $66.54 on Tuesday. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $67.19. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $60.88 and a 200-day simple moving average of $54.54. The stock has a market capitalization of $2.10 billion, a PE ratio of 16.47 and a beta of 1.59.

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 for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $170.81 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CUBI shares. Wall Street Zen raised Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley raised their target price on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. DA Davidson raised their target price on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods raised their target price on Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. Finally, Stephens raised their target price on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $69.25.

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.

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