Teza Capital Management LLC Cuts Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Teza Capital Management LLC cut its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 20.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,098 shares of the bank’s stock after selling 1,800 shares during the period. Teza Capital Management LLC’s holdings in Customers Bancorp were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management grew its position in Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after acquiring an additional 189 shares during the period. R Squared Ltd acquired a new position in shares of Customers Bancorp in the 4th quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Customers Bancorp during the 4th quarter worth about $46,000. KBC Group NV increased its position in Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after purchasing an additional 677 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after buying an additional 1,255 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CUBI shares. Stephens reissued an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. Keefe, Bruyette & Woods lowered their price target 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. DA Davidson boosted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. B. Riley upped their target price on Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Finally, Maxim Group raised their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $53.70 on Wednesday. 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, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The business has a 50 day moving average price of $49.36 and a two-hundred day moving average price of $51.56. The firm has a market cap of $1.70 billion, a PE ratio of 10.57 and a beta of 1.51.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating the consensus estimate of $1.28 by $0.26. The company had revenue of $194.28 million during the quarter, compared to analysts’ expectations of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same period in the prior year, the business posted $1.68 EPS. Sell-side analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal 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.