Hennessy Advisors Inc. Boosts Stock Position in Customers Bancorp, Inc (NYSE:CUBI)

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

Several other hedge funds have also added to or reduced their stakes in the business. Hood River Capital Management LLC grew its holdings in Customers Bancorp by 40.1% in the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank's stock valued at $71,606,000 after buying an additional 421,335 shares in the last quarter. American Century Companies Inc. raised its position in shares of Customers Bancorp by 5.9% in the 4th quarter. American Century Companies Inc. now owns 773,772 shares of the bank's stock valued at $37,667,000 after buying an additional 42,965 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Customers Bancorp by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock valued at $20,912,000 after acquiring an additional 106,895 shares during the last quarter. Northern Trust Corp raised its position in Customers Bancorp by 19.1% during the fourth quarter. Northern Trust Corp now owns 381,684 shares of the bank's stock valued at $18,580,000 after purchasing an additional 61,224 shares in the last quarter. Finally, Tieton Capital Management LLC lifted its position in shares of Customers Bancorp by 22.9% during the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank's stock worth $14,135,000 after buying an additional 54,170 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Stock Up 0.9%

Shares of Customers Bancorp stock traded up $0.48 on Thursday, hitting $51.40. The company had a trading volume of 191,685 shares, compared to its average volume of 352,258. The stock has a 50 day moving average of $50.35 and a 200-day moving average of $51.14. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $68.49. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.95 and a beta of 1.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.96 and a current ratio of 0.96.

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. The business had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a return on equity of 11.64% and a net margin of 10.51%. During the same period last year, the company posted $1.68 earnings per share. As a group, sell-side analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Analysts Set New Price Targets

CUBI has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a report on Monday, April 28th. B. Riley lifted their target price on Customers Bancorp from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

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.