Lazard Asset Management LLC Trims Position in Customers Bancorp, Inc. (NYSE:CUBI)

Lazard Asset Management LLC trimmed its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 53.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management raised its stake in Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. R Squared Ltd purchased a new stake in Customers Bancorp during the 4th quarter valued at $42,000. KBC Group NV raised its holdings in Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after buying an additional 677 shares during the period. Smartleaf Asset Management LLC raised its holdings in Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after buying an additional 1,255 shares during the period. Finally, Summit Investment Advisors Inc. raised its holdings in Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Customers Bancorp Stock Performance

NYSE:CUBI traded down $0.81 during midday trading on Wednesday, hitting $51.48. The company's stock had a trading volume of 53,848 shares, compared to its average volume of 361,044. Customers Bancorp, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The firm's 50 day moving average is $49.38 and its 200-day moving average 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. The firm has a market cap of $1.63 billion, a P/E ratio of 10.13 and a beta of 1.51.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.26. The company had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same quarter in the prior year, the company earned $1.68 EPS. Equities analysts anticipate 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.