First Trust Advisors LP Sells 12,827 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

First Trust Advisors LP reduced its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,311 shares of the bank's stock after selling 12,827 shares during the quarter. First Trust Advisors LP owned 0.29% of Customers Bancorp worth $4,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Picton Mahoney Asset Management increased its position in shares of Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after purchasing an additional 189 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Customers Bancorp during the fourth quarter worth approximately $42,000. KBC Group NV increased its holdings in shares of Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after buying an additional 677 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after acquiring an additional 1,255 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after acquiring an additional 254 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

CUBI has been the subject of several research analyst reports. DA Davidson lifted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Maxim Group raised their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. 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. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $63.80.

Customers Bancorp Trading Down 0.4 %

Shares of CUBI stock traded down $0.21 on Wednesday, reaching $50.03. The company had a trading volume of 183,191 shares, compared to its average volume of 365,709. The company has a 50-day moving average of $48.70 and a 200-day moving average of $51.02. Customers Bancorp, Inc. has a 12 month low of $40.75 and a 12 month high of $68.49. The stock has a market cap of $1.57 billion, a PE ratio of 9.85 and a beta of 1.51. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. The company had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. During the same quarter last year, the firm posted $1.68 earnings per share. On average, equities analysts forecast 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.