Voloridge Investment Management LLC Increases Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Voloridge Investment Management LLC grew its position in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 82.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 128,207 shares of the bank's stock after buying an additional 57,903 shares during the period. Voloridge Investment Management LLC owned approximately 0.41% of Customers Bancorp worth $6,241,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CUBI. Hood River Capital Management LLC grew its holdings in shares of Customers Bancorp by 40.1% in the fourth quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank's stock worth $71,606,000 after purchasing an additional 421,335 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in Customers Bancorp in the 4th quarter worth $7,672,000. Shellback Capital LP acquired a new position in shares of Customers Bancorp during the 4th quarter valued at about $5,257,000. JPMorgan Chase & Co. lifted its position in Customers Bancorp by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock valued at $20,912,000 after buying an additional 106,895 shares during the last quarter. Finally, Gator Capital Management LLC lifted its position in Customers Bancorp by 135.0% in the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank's stock valued at $8,704,000 after buying an additional 102,701 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Performance

CUBI traded down $0.43 during midday trading on Friday, reaching $51.10. The company had a trading volume of 19,933 shares, compared to its average volume of 359,378. The company has a market cap of $1.61 billion, a P/E ratio of 10.06 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. The business has a 50-day moving average of $49.34 and a two-hundred day moving average of $51.55. Customers Bancorp, Inc. has a 1 year low of $40.75 and a 1 year high of $68.49.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.26. The firm had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same quarter in the previous year, the business earned $1.68 earnings per share. As a group, equities research analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CUBI. Wall Street Zen lowered shares of Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. B. Riley lifted their price objective on Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.