Rhumbline Advisers Sells 3,810 Shares of Customers Bancorp, Inc $CUBI

Key Points

• Rhumbline Advisers reduced its stake in Customers Bancorp, Inc by 4.2%, selling 3,810 shares to own a total of 87,638 shares valued at approximately $4.4 million.
• Institutional investors own 89.29% of Customers Bancorp, with several firms, including EP Wealth Advisors and Royal Bank of Canada, increasing their positions in the bank's stock during the first quarter.
• Wall Street analysts have raised price objectives for Customers Bancorp, with an average target of $69.88, reflecting a consensus rating of "Moderate Buy."

Rhumbline Advisers reduced its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 87,638 shares of the bank's stock after selling 3,810 shares during the period. Rhumbline Advisers owned 0.28% of Customers Bancorp worth $4,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EP Wealth Advisors LLC increased its position in shares of Customers Bancorp by 5.3% during the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank's stock valued at $222,000 after buying an additional 223 shares during the period. Nisa Investment Advisors LLC increased its position in shares of 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 increased its position in shares of 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. Royal Bank of Canada increased its position in shares of Customers Bancorp by 11.5% during the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank's stock valued at $269,000 after buying an additional 553 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CUBI. Stephens upped 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 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. B. Riley upped their price objective on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. DA Davidson upped their price objective on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $71.00 to $76.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.88.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $67.77 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $2.14 billion, a P/E ratio of 16.78 and a beta of 1.62. The business has a fifty day simple moving average of $65.78 and a two-hundred day simple moving average of $56.27. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $72.51.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $206.31 million during the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.Customers Bancorp's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 EPS. On average, equities analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal 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.

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