Nuveen LLC Invests $26.65 Million in Customers Bancorp, Inc $CUBI

Nuveen LLC purchased a new position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 530,922 shares of the bank's stock, valued at approximately $26,652,000. Nuveen LLC owned 1.69% of Customers Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. grew its stake in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after acquiring an additional 254 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Customers Bancorp by 3.8% during the first quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after buying an additional 270 shares during the period. GAMMA Investing LLC grew its position in Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after buying an additional 403 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Customers Bancorp by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank's stock valued at $820,000 after buying an additional 645 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Customers Bancorp during the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CUBI. Stephens increased their price target on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods increased their price target on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. B. Riley increased their price target on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, DA Davidson increased their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.25.

Customers Bancorp Stock Performance

NYSE CUBI traded up $3.8550 during trading on Friday, hitting $69.3050. 67,468 shares of the company's stock traded hands, compared to its average volume of 299,397. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 17.11 and a beta of 1.59. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $69.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50 day moving average of $61.67 and a 200-day moving average of $54.76.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The business had revenue of $206.31 million for the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 earnings per share. As a group, equities research analysts anticipate 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.