Wedge Capital Management L L P NC Has $2.03 Million Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Wedge Capital Management L L P NC cut its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 24.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,407 shares of the bank's stock after selling 13,334 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.13% of Customers Bancorp worth $2,028,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Hood River Capital Management LLC raised its holdings in 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 valued at $71,606,000 after acquiring an additional 421,335 shares in the last quarter. Heartland Advisors Inc. bought a new position in shares of Customers Bancorp in the 4th quarter worth about $7,672,000. Shellback Capital LP acquired a new position in shares of Customers Bancorp in the 4th quarter valued at about $5,257,000. JPMorgan Chase & Co. grew its position in shares of Customers Bancorp by 33.1% during the 4th 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 raised its stake in Customers Bancorp by 135.0% during the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank's stock worth $8,704,000 after acquiring an additional 102,701 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CUBI shares. B. Riley upped their target price on Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Keefe, Bruyette & Woods decreased their price target on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Customers Bancorp Price Performance

Shares of CUBI traded down $1.68 during trading hours on Friday, hitting $50.22. 250,915 shares of the company were exchanged, compared to its average volume of 355,611. The firm has a fifty day simple moving average of $50.03 and a 200-day simple moving average of $51.22. The company has a market capitalization of $1.59 billion, a PE ratio of 9.89 and a beta of 1.53. Customers Bancorp, Inc. has a one year low of $40.75 and a one year high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.26. The business had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same period last year, the firm posted $1.68 earnings per share. As a group, sell-side analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current 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.