Customers Bancorp, Inc. (NYSE:CUBI) Stock Holdings Lifted by Hennessy Advisors Inc.

Hennessy Advisors Inc. lifted its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 37.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,000 shares of the bank's stock after acquiring an additional 10,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.12% of Customers Bancorp worth $1,857,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CUBI. Picton Mahoney Asset Management increased its holdings in Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after buying an additional 189 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Customers Bancorp in the 4th quarter worth approximately $46,000. Smartleaf Asset Management LLC lifted its stake in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after purchasing an additional 1,255 shares during the last quarter. GAMMA Investing LLC increased its position in Customers Bancorp by 27.2% in the first 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. Finally, Summit Investment Advisors Inc. raised its stake in shares of Customers Bancorp by 8.9% in the fourth 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. Institutional investors and hedge funds own 89.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. B. Riley lifted their price objective on Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Customers Bancorp Stock Performance

Shares of NYSE CUBI traded up $0.27 during midday trading on Monday, reaching $50.62. 187,793 shares of the company were exchanged, compared to its average volume of 354,940. The stock has a fifty day simple moving average of $50.03 and a 200 day simple moving average of $51.18. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.60 billion, a P/E ratio of 9.96 and a beta of 1.53. Customers Bancorp, Inc. has a 1 year low of $40.75 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. The firm had revenue of $194.28 million during the quarter, compared to analysts' expectations of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same quarter last year, the business posted $1.68 EPS. On average, research analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal 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.