Customers Bancorp, Inc. (NYSE:CUBI) Position Raised by Millennium Management LLC

Millennium Management LLC increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 104.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,300 shares of the bank's stock after buying an additional 81,755 shares during the quarter. Millennium Management LLC owned about 0.51% of Customers Bancorp worth $7,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Customers Bancorp by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank's stock valued at $820,000 after purchasing an additional 645 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Customers Bancorp during the 4th quarter worth approximately $377,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Customers Bancorp by 30.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 227,143 shares of the bank's stock worth $11,057,000 after acquiring an additional 53,302 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Customers Bancorp during the 4th quarter worth approximately $205,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Customers Bancorp by 210.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 29,658 shares of the bank's stock worth $1,444,000 after acquiring an additional 20,094 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen lowered Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. B. Riley boosted their price target 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 decreased their price target on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp currently has a consensus rating of "Hold" and a consensus price target of $64.00.

Customers Bancorp Stock Down 0.9%

Shares of Customers Bancorp stock traded down $0.46 during trading hours on Friday, hitting $51.07. 148,618 shares of the company's stock traded hands, compared to its average volume of 360,467. The stock has a 50 day simple moving average of $49.31 and a 200-day simple moving average of $51.48. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.61 billion, a PE ratio of 10.05 and a beta of 1.51. Customers Bancorp, Inc. has a twelve month low of $40.75 and a twelve month high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted 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 business had revenue of $194.28 million during the quarter, compared to the consensus estimate of $165.24 million. During the same period last year, the firm earned $1.68 earnings per share. Equities research analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

About Customers Bancorp

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.