Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC trimmed its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 1.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 149,290 shares of the bank’s stock after selling 2,931 shares during the period. Kennedy Capital Management LLC’s holdings in Customers Bancorp were worth $7,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Customers Bancorp by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,576 shares of the bank’s stock valued at $721,000 after purchasing an additional 1,030 shares during the period. Quadrature Capital Ltd raised its position in Customers Bancorp by 15.1% in the 1st quarter. Quadrature Capital Ltd now owns 12,090 shares of the bank’s stock valued at $642,000 after purchasing an additional 1,582 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Customers Bancorp by 5.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,404 shares of the bank’s stock worth $1,189,000 after acquiring an additional 1,226 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Customers Bancorp in the first quarter valued at about $4,266,000. Finally, Vanguard Group Inc. increased its stake in Customers Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after purchasing an additional 111,654 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CUBI has been the subject of a number of recent research reports. Hovde Group dropped their price objective on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $76.00 price objective (up previously from $65.00) on shares of Customers Bancorp in a research report on Monday. Jefferies Financial Group reduced their target price on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. B. Riley upped their price objective on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wedbush raised their target price on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $67.33.

Customers Bancorp Trading Up 0.1 %

Shares of Customers Bancorp stock traded up $0.08 during trading hours on Wednesday, reaching $63.00. The stock had a trading volume of 13,166 shares, compared to its average volume of 336,555. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 8.79 and a beta of 1.65. Customers Bancorp, Inc. has a 1 year low of $31.16 and a 1 year high of $68.49. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $50.31 and a two-hundred day simple moving average of $50.80.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The business had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 EPS. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 6.44 earnings per share for the current year.

Customers Bancorp Company 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.