Graham Capital Management L.P. Makes New Investment in Customers Bancorp, Inc. (NYSE:CUBI)

Graham Capital Management L.P. purchased a new stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,742 shares of the bank's stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hood River Capital Management LLC increased its position in Customers Bancorp by 40.1% during the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank's stock valued at $71,606,000 after purchasing an additional 421,335 shares during the period. Heartland Advisors Inc. bought a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $7,672,000. JPMorgan Chase & Co. increased its holdings in Customers Bancorp by 33.1% during 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 period. Gator Capital Management LLC lifted its holdings 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 buying an additional 102,701 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Customers Bancorp by 46.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank's stock valued at $13,621,000 after acquiring an additional 90,451 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Performance

Shares of CUBI stock traded up $0.27 on Thursday, hitting $51.59. The company had a trading volume of 12,522 shares, compared to its average volume of 362,540. Customers Bancorp, Inc. has a twelve month low of $40.75 and a twelve month high of $68.49. 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 firm has a market cap of $1.63 billion, a P/E ratio of 10.14 and a beta of 1.51. The company has a 50-day moving average price of $49.37 and a 200-day moving average price of $51.56.

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 for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $165.24 million. During the same period last 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CUBI. Keefe, Bruyette & Woods decreased their price objective 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. B. Riley raised their price target on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a report on Friday, May 16th. Maxim Group boosted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Stephens restated an "equal weight" rating and issued a $58.00 target price on shares of Customers Bancorp in a research note on Friday, January 24th. Finally, Wall Street Zen lowered Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $64.00.

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.