Sei Investments Co. Trims Position in Customers Bancorp, Inc $CUBI

Key Points

• Sei Investments Co. reduced its stake in Customers Bancorp, Inc by 3.8%, retaining 99,692 shares valued at approximately $4.86 million.
• Hub client holdings in Customers Bancorp from various institutional investors increased, with GAMMA Investing LLC raising its position by 27.2% to own shares worth $95,000.
• Customers Bancorp's most recent earnings report showed an EPS of $1.80, exceeding estimates, with revenue of $206.31 million compared to anticipated revenue of $170.81 million.

Sei Investments Co. lessened its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,692 shares of the bank's stock after selling 3,947 shares during the quarter. Sei Investments Co. owned about 0.32% of Customers Bancorp worth $4,858,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CUBI. Wells Fargo & Company MN lifted its position in Customers Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 17,424 shares of the bank's stock worth $848,000 after buying an additional 3,792 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Customers Bancorp by 20.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank's stock valued at $865,000 after buying an additional 2,994 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $2,543,000. Summit Investment Advisors Inc. increased its stake in shares of Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares during the period. Finally, Jump Financial LLC purchased a new stake in Customers Bancorp in the fourth quarter worth $1,810,000. Institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CUBI shares. Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. DA Davidson upped their price target on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Stephens upped their price target on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. B. Riley boosted their target price on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen raised Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One equities 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. According to data from MarketBeat.com, Customers Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $69.25.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI traded up $0.15 during midday trading on Wednesday, reaching $66.15. 23,962 shares of the company's stock traded hands, compared to its average volume of 300,780. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 16.37 and a beta of 1.59. 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, Inc has a one year low of $40.75 and a one year high of $67.34. The stock has a 50 day moving average of $61.14 and a 200 day moving average of $54.62.

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