Quantbot Technologies LP Sells 9,085 Shares of Customers Bancorp, Inc $CUBI

Key Points

• Quantbot Technologies LP sold 9,085 shares of Customers Bancorp, Inc., reducing its stake by 17.6%, leaving it with 42,628 shares valued at approximately $2.14 million.
• Hedge funds have increased their investments, with Wellington Management boosting its holdings by 34.3%, now owning over 3.5 million shares valued at $177 million.
• Research reports show mixed ratings for Customers Bancorp, with a target price increase from Stephens to $62.00 and a "Moderate Buy" average rating from analysts, while the current stock price is $65.39.

Quantbot Technologies LP lessened its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 17.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,628 shares of the bank's stock after selling 9,085 shares during the period. Quantbot Technologies LP owned 0.14% of Customers Bancorp worth $2,140,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CUBI. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Customers Bancorp in the 4th quarter worth about $46,000. GAMMA Investing LLC raised its position in shares of Customers Bancorp by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock worth $95,000 after purchasing an additional 403 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Customers Bancorp in the 4th quarter worth about $202,000. EP Wealth Advisors LLC purchased a new position in Customers Bancorp in the 4th quarter worth about $205,000. Finally, Ground Swell Capital LLC purchased a new position in Customers Bancorp in the 1st quarter worth about $208,000. Institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. B. Riley upped 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. Stephens upped 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. DA Davidson upped 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. Finally, Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Customers Bancorp has an average rating of "Moderate Buy" and a consensus target price of $69.25.

Customers Bancorp Price Performance

Shares of CUBI traded up $0.62 during mid-day trading on Wednesday, hitting $70.85. 28,893 shares of the stock were exchanged, compared to its average volume of 298,711. The company has a market cap of $2.24 billion, a PE ratio of 17.55 and a beta of 1.59. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $70.88. The firm has a 50-day moving average of $62.79 and a two-hundred day moving average of $54.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

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