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UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI – Free Report) by 29.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 75,798 shares of the bank’s stock after purchasing an additional 17,182 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Customers Bancorp were worth $3,690,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CUBI. Picton Mahoney Asset Management boosted its holdings in Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after purchasing an additional 189 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Customers Bancorp in the fourth quarter worth $46,000. KBC Group NV boosted its stake in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after buying an additional 677 shares during the period. Smartleaf Asset Management LLC boosted its stake in Customers Bancorp by 323.5% during 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. Finally, Summit Investment Advisors Inc. grew its position in Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock worth $151,000 after buying an additional 254 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.
Wall Street Analyst Weigh In
CUBI has been the topic of several recent analyst reports. Wall Street Zen cut Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. B. Riley lifted their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.00.
Read Our Latest Stock Analysis on Customers Bancorp
Customers Bancorp Stock Performance
NYSE:CUBI opened at $50.70 on Thursday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.98 and a beta of 1.51. The business has a 50 day moving average of $49.29 and a 200 day moving average of $51.42. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. Customers Bancorp, Inc. has a 1-year low of $40.75 and a 1-year high of $68.49.
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping the consensus estimate of $1.28 by $0.26. The firm had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same period last year, the firm posted $1.68 earnings per share. On average, sell-side analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.
About Customers Bancorp
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.
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