Customers Bancorp, Inc (NYSE:CUBI) Shares Sold by South Dakota Investment Council

South Dakota Investment Council cut its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 190,897 shares of the bank's stock after selling 14,700 shares during the period. South Dakota Investment Council owned approximately 0.61% of Customers Bancorp worth $9,583,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CUBI. Point72 Asia Singapore Pte. Ltd. bought a new position in Customers Bancorp during the fourth quarter valued at approximately $46,000. GAMMA Investing LLC lifted its position in Customers Bancorp by 27.2% during the first 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. lifted its position in Customers Bancorp by 8.9% during the fourth 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. Hsbc Holdings PLC bought a new position in Customers Bancorp during the fourth quarter valued at approximately $202,000. Finally, EP Wealth Advisors LLC bought a new position in Customers Bancorp during the fourth quarter valued at approximately $205,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CUBI. Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $65.00 to $70.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday. Finally, B. Riley increased their price objective on shares of Customers Bancorp from $81.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.33.

Customers Bancorp Stock Down 0.1%

Shares of NYSE:CUBI traded down $0.03 during trading hours on Monday, hitting $64.08. The company's stock had a trading volume of 129,735 shares, compared to its average volume of 347,942. The firm's fifty day moving average price is $56.04 and its 200 day moving average price is $52.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.96. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $68.49. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 16.17 and a beta of 1.55.

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