Rafferty Asset Management LLC Decreases Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Rafferty Asset Management LLC trimmed its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,240 shares of the bank's stock after selling 27,766 shares during the period. Rafferty Asset Management LLC owned about 0.24% of Customers Bancorp worth $3,711,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management increased its stake 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 in the last quarter. R Squared Ltd acquired a new position in Customers Bancorp in the 4th quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Customers Bancorp in the 4th quarter valued at $46,000. KBC Group NV raised its holdings in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after acquiring an additional 677 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Customers Bancorp by 323.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after acquiring an additional 1,255 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Trading Down 0.8%

Shares of NYSE CUBI traded down $0.43 during trading on Friday, hitting $50.75. 175,801 shares of the company traded hands, compared to its average volume of 362,919. Customers Bancorp, Inc. has a 1 year low of $40.75 and a 1 year high of $68.49. The company has a 50-day moving average price of $49.38 and a 200-day moving average price of $51.60. The firm has a market capitalization of $1.60 billion, a P/E ratio of 9.99 and a beta of 1.51. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The firm had revenue of $194.28 million during the quarter, compared to analysts' expectations of $165.24 million. During the same period in the prior year, the company earned $1.68 EPS. On average, equities analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on CUBI. B. Riley boosted their price target on Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a report on Friday, May 16th. DA Davidson boosted their price target on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Maxim Group boosted their price target on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 27th. Wall Street Zen downgraded Customers Bancorp from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Keefe, Bruyette & Woods cut their price target on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Customers Bancorp has a consensus rating of "Hold" and a consensus price target of $64.00.

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.