Nuveen Asset Management LLC Has $25.83 Million Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Nuveen Asset Management LLC lowered its holdings in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 530,574 shares of the bank's stock after selling 29,579 shares during the quarter. Nuveen Asset Management LLC owned 1.69% of Customers Bancorp worth $25,828,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research analysts have commented on CUBI shares. Keefe, Bruyette & Woods cut their price objective on 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. B. Riley upped their price target on Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $64.00.

Customers Bancorp Price Performance

Shares of CUBI stock traded down $0.58 during midday trading on Wednesday, reaching $51.70. 14,525 shares of the company were exchanged, compared to its average volume of 290,550. Customers Bancorp, Inc. has a 12 month low of $40.75 and a 12 month high of $68.49. The company has a market cap of $1.63 billion, a P/E ratio of 10.18 and a beta of 1.51. The company's 50 day moving average price is $49.38 and its two-hundred day moving average price is $51.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.26. The company had revenue of $194.28 million during 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 period in the prior year, the company earned $1.68 EPS. On average, sell-side analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current 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.