Bard Associates Inc. boosted its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,720 shares of the bank’s stock after buying an additional 685 shares during the quarter. Customers Bancorp makes up approximately 1.0% of Bard Associates Inc.’s portfolio, making the stock its 28th largest holding. Bard Associates Inc. owned about 0.26% of Customers Bancorp worth $2,254,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Customers Bancorp during the second quarter valued at about $123,000. BNP Paribas Arbitrage SA grew its position in Customers Bancorp by 10.4% during the first quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock valued at $161,000 after buying an additional 479 shares during the period. Nisa Investment Advisors LLC grew its position in Customers Bancorp by 8.7% during the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock valued at $158,000 after buying an additional 450 shares during the period. State of Alaska Department of Revenue grew its position in Customers Bancorp by 80.2% during the second quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock valued at $159,000 after buying an additional 2,517 shares during the period. Finally, US Bancorp DE grew its position in Customers Bancorp by 8.3% during the first quarter. US Bancorp DE now owns 5,890 shares of the bank’s stock valued at $186,000 after buying an additional 450 shares during the period. Institutional investors own 87.53% of the company’s stock.
CUBI has been the subject of several research reports. Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. TheStreet upgraded shares of Customers Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of Customers Bancorp in a research report on Friday, June 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.50.
Customers Bancorp, Inc (CUBI) traded up 1.37% during trading on Friday, reaching $27.41. 124,922 shares of the company traded hands. Customers Bancorp, Inc has a 52 week low of $24.37 and a 52 week high of $36.93. The firm has a market capitalization of $842.31 million, a price-to-earnings ratio of 11.21 and a beta of 0.65. The company’s 50-day moving average price is $28.44 and its 200 day moving average price is $29.89.
Customers Bancorp (NYSE:CUBI) last issued its earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.16. Customers Bancorp had a return on equity of 15.93% and a net margin of 22.81%. The business had revenue of $68.62 million during the quarter, compared to analyst estimates of $67.14 million. During the same quarter in the previous year, the firm earned $0.67 EPS. Customers Bancorp’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Customers Bancorp, Inc will post $2.67 EPS for the current year.
Customers Bancorp Profile
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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