Customers Bancorp, Inc. (NYSE:CUBI) Stock Holdings Lessened by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 22.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 358,074 shares of the bank’s stock after selling 103,440 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.14% of Customers Bancorp worth $18,999,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. SummerHaven Investment Management LLC lifted its position in shares of Customers Bancorp by 1.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 20,202 shares of the bank’s stock worth $1,164,000 after buying an additional 205 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Customers Bancorp by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after purchasing an additional 353 shares during the last quarter. ProShare Advisors LLC lifted its position in Customers Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after purchasing an additional 398 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Customers Bancorp by 4.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 16,066 shares of the bank’s stock valued at $852,000 after buying an additional 738 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Customers Bancorp by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,576 shares of the bank’s stock valued at $721,000 after buying an additional 1,030 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Up 1.3 %

CUBI stock traded up $0.84 during trading hours on Wednesday, hitting $63.76. The company’s stock had a trading volume of 55,518 shares, compared to its average volume of 336,845. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $2.01 billion, a PE ratio of 8.79 and a beta of 1.65. Customers Bancorp, Inc. has a 12 month low of $31.16 and a 12 month high of $68.49. The stock has a 50 day moving average price of $50.31 and a two-hundred day moving average price of $50.80.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The business had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $184.40 million. During the same period in the previous year, the company earned $1.65 earnings per share. Customers Bancorp’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Customers Bancorp, Inc. will post 6.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CUBI has been the topic of several recent research reports. Wedbush lifted their price objective on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. DA Davidson lifted their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday. Hovde Group lowered their price objective on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $76.00 price target (up from $65.00) on shares of Customers Bancorp in a report on Monday. Finally, B. Riley raised their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.33.

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.