Rhumbline Advisers Raises Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Rhumbline Advisers increased its position in Customers Bancorp, Inc. (NYSE:CUBI) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,213 shares of the bank’s stock after acquiring an additional 1,209 shares during the period. Rhumbline Advisers owned approximately 0.31% of Customers Bancorp worth $3,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CUBI. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Customers Bancorp during the 4th quarter valued at about $30,000. Everence Capital Management Inc. purchased a new position in shares of Customers Bancorp during the 1st quarter valued at about $221,000. GSA Capital Partners LLP purchased a new position in shares of Customers Bancorp during the 4th quarter valued at about $202,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Customers Bancorp during the 1st quarter valued at about $458,000. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Customers Bancorp during the 4th quarter valued at about $586,000. Institutional investors own 75.70% of the company’s stock.

A number of equities analysts have weighed in on the company. B. Riley lifted their price objective on Customers Bancorp from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, May 5th. Maxim Group raised their target price on Customers Bancorp from $35.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, April 30th. They noted that the move was a valuation call. Finally, TheStreet upgraded Customers Bancorp from a “c” rating to a “b-” rating in a research report on Friday, March 12th. Six equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $35.50.

In other news, COO Richard A. Ehst sold 23,366 shares of the business’s stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $35.04, for a total transaction of $818,744.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James T. Collins sold 953 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $31.83, for a total value of $30,333.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,617 shares of company stock worth $2,040,486. 10.23% of the stock is currently owned by insiders.

CUBI stock opened at $40.22 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Customers Bancorp, Inc. has a 12-month low of $10.18 and a 12-month high of $43.86. The firm has a market cap of $1.30 billion, a PE ratio of 8.47 and a beta of 1.59. The business has a 50-day moving average price of $35.01.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Tuesday, April 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.34). Customers Bancorp had a return on equity of 21.81% and a net margin of 23.99%. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 8.23 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. It operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, non-interest-bearing demand accounts, individual retirement accounts, and other deposit accounts, as well as non-retail time deposits.

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Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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