Lazard Asset Management LLC Has $221,000 Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Lazard Asset Management LLC reduced its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 53.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,580 shares of the bank's stock after selling 5,224 shares during the period. Lazard Asset Management LLC's holdings in Customers Bancorp were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Graham Capital Management L.P. purchased a new position in Customers Bancorp in the 4th quarter worth about $377,000. D. E. Shaw & Co. Inc. increased its stake in Customers Bancorp by 30.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 227,143 shares of the bank's stock worth $11,057,000 after purchasing an additional 53,302 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Customers Bancorp in the 4th quarter worth about $205,000. Cubist Systematic Strategies LLC increased its stake in Customers Bancorp by 210.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 29,658 shares of the bank's stock worth $1,444,000 after purchasing an additional 20,094 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in Customers Bancorp by 65.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 80,716 shares of the bank's stock worth $3,929,000 after purchasing an additional 32,000 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CUBI has been the topic of several research analyst reports. Wall Street Zen cut Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods dropped their price objective on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, B. Riley increased their price objective on Customers Bancorp from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $64.00.

Customers Bancorp Stock Performance

CUBI traded down $0.14 on Thursday, hitting $51.00. The company had a trading volume of 10,208 shares, compared to its average volume of 288,776. Customers Bancorp, Inc. has a 1-year low of $40.75 and a 1-year high of $68.49. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 10.04 and a beta of 1.51. The company's fifty day moving average price is $49.37 and its 200 day moving average price is $51.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. 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 company earned $1.68 earnings per share. Equities analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal 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.