Northern Trust Corp Sells 9,297 Shares of Customers Bancorp, Inc $CUBI

Northern Trust Corp lowered its position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 372,387 shares of the bank's stock after selling 9,297 shares during the period. Northern Trust Corp owned 1.18% of Customers Bancorp worth $18,694,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in Customers Bancorp by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank's stock valued at $4,049,000 after acquiring an additional 3,958 shares in the last quarter. Millennium Management LLC grew its stake in Customers Bancorp by 104.1% during the fourth quarter. Millennium Management LLC now owns 160,300 shares of the bank's stock valued at $7,803,000 after acquiring an additional 81,755 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Customers Bancorp by 34.9% during the first quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank's stock valued at $427,000 after acquiring an additional 2,200 shares in the last quarter. Principal Financial Group Inc. grew its stake in Customers Bancorp by 2.7% during the first quarter. Principal Financial Group Inc. now owns 145,201 shares of the bank's stock valued at $7,289,000 after acquiring an additional 3,802 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Customers Bancorp by 6,283.2% during the first quarter. GAMMA Investing LLC now owns 94,727 shares of the bank's stock valued at $4,755,000 after acquiring an additional 93,243 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Trading Down 3.6%

Shares of CUBI traded down $2.52 during mid-day trading on Friday, reaching $67.45. The company's stock had a trading volume of 665,566 shares, compared to its average volume of 326,639. The stock has a market cap of $2.13 billion, a PE ratio of 16.69 and a beta of 1.62. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $72.51. The company's fifty day moving average price is $65.34 and its two-hundred day moving average price is $55.76.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $206.31 million during the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. On average, analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on CUBI. B. Riley boosted their price target on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods boosted their price target on shares of Customers Bancorp from $71.00 to $76.00 and gave the stock a "market perform" rating in a research note on Friday. DA Davidson boosted their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Stephens boosted their price target on shares of Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Customers Bancorp has an average rating of "Moderate Buy" and an average price target of $69.88.

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.