Quantbot Technologies LP Reduces Position in 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 trimmed its stake in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 17.6% in the 1st quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Customers Bancorp by 34.3% during the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock valued at $177,349,000 after acquiring an additional 902,406 shares in the last quarter. American Century Companies Inc. grew its stake in Customers Bancorp by 7.3% during the first quarter. American Century Companies Inc. now owns 830,023 shares of the bank's stock valued at $41,667,000 after acquiring an additional 56,251 shares in the last quarter. Nuveen LLC purchased a new position in Customers Bancorp during the first quarter valued at $26,652,000. Northern Trust Corp grew its stake in Customers Bancorp by 19.1% during the fourth quarter. Northern Trust Corp now owns 381,684 shares of the bank's stock valued at $18,580,000 after acquiring an additional 61,224 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Customers Bancorp by 11.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 317,584 shares of the bank's stock valued at $16,127,000 after acquiring an additional 32,216 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Price Performance

Shares of NYSE:CUBI traded up $3.2790 on Friday, reaching $68.7290. The company's stock had a trading volume of 413,174 shares, compared to its average volume of 316,916. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $69.42. The company has a market cap of $2.17 billion, a P/E ratio of 17.01 and a beta of 1.59. The company has a 50-day simple moving average of $62.04 and a 200 day simple moving average of $54.79. 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 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business had revenue of $206.31 million during the quarter, compared to analysts' expectations of $170.81 million. During the same period last year, the company posted $1.49 EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. B. Riley raised their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. DA Davidson raised their target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Stephens lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $69.25.

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.