Sei Investments Co. Sells 3,947 Shares of 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. lowered its stake in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,692 shares of the bank's stock after selling 3,947 shares during the quarter. Sei Investments Co. owned 0.32% of Customers Bancorp worth $4,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Customers Bancorp during the fourth quarter valued at about $46,000. GAMMA Investing LLC increased its position in shares of Customers Bancorp by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after purchasing an additional 403 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Customers Bancorp by 8.9% during the 4th 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 in the last quarter. Ground Swell Capital LLC bought a new stake in Customers Bancorp in the 1st quarter worth approximately $208,000. Finally, Hsbc Holdings PLC bought a new stake in Customers Bancorp in the 4th quarter worth approximately $202,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CUBI shares. DA Davidson increased 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. Stephens upped their price objective on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a report on Monday, July 28th. B. Riley boosted their price target on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One investment 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.25.

Customers Bancorp Trading Down 0.3%

Shares of CUBI traded down $0.1770 during mid-day trading on Wednesday, hitting $65.8230. 207,781 shares of the company's stock traded hands, compared to its average volume of 348,952. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $67.34. The firm has a market capitalization of $2.08 billion, a P/E ratio of 16.29 and a beta of 1.59. The business's 50-day moving average price is $61.40 and its 200-day moving average price is $54.70.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The company 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%.The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 earnings per share. As a group, sell-side analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp Company Profile

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.