Pacific Ridge Capital Partners LLC lifted its stake in shares of Customers Bancorp Inc (NYSE:CUBI) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,180 shares of the bank’s stock after buying an additional 6,460 shares during the quarter. Pacific Ridge Capital Partners LLC owned 0.24% of Customers Bancorp worth $1,769,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in CUBI. Riverhead Capital Management LLC increased its holdings in Customers Bancorp by 44.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock worth $192,000 after purchasing an additional 2,100 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Customers Bancorp during the 2nd quarter worth approximately $196,000. Tyers Asset Management LLC increased its holdings in Customers Bancorp by 44.6% during the 2nd quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock worth $211,000 after purchasing an additional 2,296 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Customers Bancorp during the 2nd quarter worth approximately $251,000. Finally, Flinton Capital Management LLC increased its holdings in Customers Bancorp by 44.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,044 shares of the bank’s stock worth $257,000 after purchasing an additional 2,788 shares during the last quarter. Institutional investors and hedge funds own 79.87% of the company’s stock.
Shares of NYSE CUBI opened at $18.08 on Friday. Customers Bancorp Inc has a twelve month low of $17.59 and a twelve month high of $32.34. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $574.81 million, a PE ratio of 8.22, a PEG ratio of 0.72 and a beta of 0.82.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.03). Customers Bancorp had a net margin of 16.01% and a return on equity of 13.10%. The firm had revenue of $66.09 million during the quarter, compared to the consensus estimate of $64.64 million. On average, equities analysts forecast that Customers Bancorp Inc will post 2.53 EPS for the current year.
Several equities research analysts have issued reports on the company. Maxim Group dropped their price objective on Customers Bancorp to $38.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. They noted that the move was a valuation call. Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a report on Wednesday, October 17th. B. Riley downgraded Customers Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $23.00 in a report on Thursday, November 8th. Zacks Investment Research downgraded Customers Bancorp from a “hold” rating to a “strong sell” rating in a report on Thursday, October 18th. Finally, ValuEngine downgraded Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.33.
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Customers Bancorp Profile
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.
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