Algert Global LLC Cuts Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Algert Global LLC trimmed its position in Customers Bancorp, Inc. (NYSE:CUBI) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,127 shares of the bank’s stock after selling 6,322 shares during the period. Algert Global LLC’s holdings in Customers Bancorp were worth $1,613,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CUBI. Jane Street Group LLC increased its position in shares of Customers Bancorp by 109.8% during the fourth quarter. Jane Street Group LLC now owns 77,302 shares of the bank’s stock worth $3,763,000 after purchasing an additional 40,449 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Customers Bancorp during the fourth quarter worth $443,000. Northern Trust Corp raised its position in shares of Customers Bancorp by 19.1% in the fourth quarter. Northern Trust Corp now owns 381,684 shares of the bank’s stock valued at $18,580,000 after buying an additional 61,224 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Customers Bancorp during the fourth quarter worth about $2,072,000. Finally, Hood River Capital Management LLC grew its stake 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 acquiring an additional 421,335 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CUBI has been the topic of several recent research reports. Maxim Group boosted their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods dropped their target price on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Stephens reissued an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, DA Davidson upped their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six investment 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. Based on data from MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.80.

Customers Bancorp Stock Up 0.3 %

Shares of NYSE CUBI opened at $51.82 on Friday. Customers Bancorp, Inc. has a 52-week low of $40.75 and a 52-week high of $68.49. The business’s 50 day moving average is $48.70 and its two-hundred day moving average is $51.11. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 10.20 and a beta of 1.51. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.26. The firm had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same quarter in the prior year, the company earned $1.68 EPS. Research analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

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.