Voya Investment Management LLC Lowers Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Voya Investment Management LLC decreased its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 21.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,906 shares of the bank's stock after selling 5,174 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Customers Bancorp worth $920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUBI. 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 during the last quarter. R Squared Ltd acquired a new stake in shares of Customers Bancorp during the fourth quarter valued at about $42,000. KBC Group NV raised its stake in shares of Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after acquiring an additional 677 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Customers Bancorp by 323.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after acquiring an additional 1,255 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position 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 worth $151,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $50.38 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $48.78 and a 200-day simple moving average of $51.03. The stock has a market cap of $1.59 billion, a P/E ratio of 9.92 and a beta of 1.51. Customers Bancorp, Inc. has a 12-month low of $40.75 and a 12-month 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, 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 during the quarter, compared to the consensus estimate of $165.24 million. During the same period in the previous year, the business earned $1.68 EPS. Equities analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on CUBI shares. Keefe, Bruyette & Woods cut their target price on 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. Maxim Group increased their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. DA Davidson raised their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Stephens reiterated an "equal weight" rating and set a $58.00 price target on shares of Customers Bancorp in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $63.80.

Customers Bancorp 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.

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