Virginia Retirement Systems ET AL held its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,200 shares of the bank’s stock at the close of the 2nd quarter. Virginia Retirement Systems ET AL’s holdings in Customers Bancorp were worth $204,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CUBI. BlackRock Inc. raised its stake in Customers Bancorp by 68,969.6% during the 1st quarter. BlackRock Inc. now owns 3,487,325 shares of the bank’s stock valued at $109,954,000 after purchasing an additional 3,482,276 shares during the period. Victory Capital Management Inc. raised its stake in Customers Bancorp by 37.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,177,660 shares of the bank’s stock valued at $37,132,000 after purchasing an additional 318,752 shares during the period. State Street Corp raised its stake in Customers Bancorp by 43.3% during the 1st quarter. State Street Corp now owns 1,036,453 shares of the bank’s stock valued at $32,681,000 after purchasing an additional 313,181 shares during the period. Dimensional Fund Advisors LP raised its stake in Customers Bancorp by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,920 shares of the bank’s stock valued at $52,842,000 after purchasing an additional 263,321 shares during the period. Finally, New Amsterdam Partners LLC NY bought a new stake in Customers Bancorp during the 2nd quarter valued at approximately $7,404,000. 87.53% of the stock is currently owned by institutional investors.
Shares of Customers Bancorp, Inc (NYSE CUBI) opened at 28.69 on Wednesday. The company has a market cap of $881.64 million, a P/E ratio of 11.73 and a beta of 0.65. Customers Bancorp, Inc has a 1-year low of $24.37 and a 1-year high of $36.93. The firm has a 50-day moving average price of $28.45 and a 200-day moving average price of $29.76.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 26th. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $67.14 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts expect that Customers Bancorp, Inc will post $2.67 EPS for the current year.
A number of research firms have issued reports on CUBI. Zacks Investment Research raised Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Monday, July 31st. BidaskClub raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Customers Bancorp in a research note on Friday, June 30th. Finally, TheStreet raised Customers Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.50.
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About Customers Bancorp
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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