The number of shares of Customers Bancorp, Inc. (NYSE: CUBI) that Assenagon Asset Management S.A. owned dropped by 74.0 percent during the third quarter, as stated in the most recent disclosure that the company provided to the Securities and Exchange Commission. (SEC). After the fund sold 95,120 shares of the Bank’s stock during the period, it was left with 33,424 shares in its holdings to be invested in other companies. Assenagon Asset Management S.A. reportedly owned approximately 0.10% of Customers Bancorp at a value of $985,000 as of the most recent information that was disclosed to the Securities and Exchange Commission by the company. (SEC).
Several hedge funds have recently modified the processes by which they invest in the company to reflect recent developments. Through the third quarter, Strs Ohio increased the amount of Customers Bancorp stock owned by 4.4%. After purchasing an additional 1,000 shares during the most recent quarter, Strs Ohio now owns 23,600 shares of the Bank’s stock, with a combined value of $695,000. Strs Ohio acquired these shares. The value of Wipfli Financial Advisors LLC’s holdings in Customers Bancorp increased by $82,000 during the third quarter due to the company’s purchase of additional shares. During the third quarter, Mraz Amerine & Associates, Inc. increased the amount of Customers Bancorp stock owned by 4.00%, bringing its total ownership percentage to 100%. Following the purchase of an additional 1,327 shares during the most recent quarter, Mraz Amerine & Associates Inc. now owns 34,201 shares. The value of these shares brings the company’s total holdings to $1,008,000. Thompson, Siegel & Walmsley LLC increased the proportion of Customers Bancorp stock owned by 12.6% during the third quarter. After purchasing an additional 29,800 shares during the relevant period, Thompson, Siegel & Walmsley LLC now owns 267,019 shares of the Bank’s stock, which has a value of $7,872,000. These shares were acquired during the period in question.
Last but not least, during the third quarter, Ziegler Capital Management LLC added 43.6% more Customers Bancorp stock to its holdings, bringing the total amount of the company’s stock ownership to 100%. After purchasing an additional 13,227 shares during the quarter, Ziegler Capital Management LLC now has 43,560 shares of the Bank’s stock, with a market value of $1,284,000. At this time, institutions hold 84.33% of the company’s equity.
Recent analyst reports contain numerous discussions about CUBI as a topic of interest. In a research article released on StockNews.com on October 12th, 2013, Customer Bancorp was mentioned for the first time. They gave the stock a recommendation to “hold.” Hovde Group disclosed their decision to lower their target price on shares of Customers Bancorp to $44.00 in a research note released on November 1st. According to a research note released by Stephens on November 23rd, the price objective for a share of Customers Bancorp is set at $45.00. This information was included in the note. In a research note published on September 28th, Wedbush reaffirmed an “outperform” rating on shares of Customers Bancorp and set a price objective of $45.00 for the company’s stock. In a report made public on Wednesday, December 21st, DA Davidson reaffirmed a “buy” recommendation on shares of Customers Bancorp. This is the last item on the agenda. The equities research specialists were asked to rate the stock; two gave it a hold rating, while the other four gave it a buy rating. The data that Bloomberg.com presented indicates that the average recommendation for the company’s stock is a “Moderate Buy,” and the current consensus target price for the company is $59.50.
The share price of Customers Bancorp was $29.62 when trading got underway on Monday. The company’s simple moving averages for the previous fifty and two hundred days are $30.06 and $32.92, respectively. Customers Bancorp, Inc. hit a low of $26.43 over the past year, while the company reached a high of $75.45 over the same period. The company’s beta value is 1.60, its market cap is $963.09 million, and its price-to-earnings ratio is 3.45. 0.86 is the value achieved when the current, quick, and debt-to-equity ratios are all added together. The ratio of debt to equity is currently 0.55.
Earnings for the most recent quarter reported by Customers Bancorp (NYSE: CUBI) were made public on October 26th, a Wednesday. The quarterly earnings per share reported by the Bank came in at $2.48, which is $0.25 more than the consensus estimate of $2.20 that analysts provided. The company’s most recent quarter’s revenue came in at $150.02 million, which is significantly lower than the consensus projection of $176.53 million in revenue for the quarter. Customers Bancorp had a return on equity of 26.39% and a net margin of 34.42% for the company overall. Analysts of publicly traded companies predict that Customers Bancorp, Inc. will report earnings per share of 7.78 cents for the current fiscal year.
Bancorp, Inc. is the owner of Customers’ Customers Bank, a financial institution that caters to individual customers and serves both small and medium-sized businesses and individual customers. Customers’ Bank is a financial institution that offers various products and services. The organization makes available a variety of deposit accounts, such as checking, savings, MMDA, and other options. There is a wide selection of loan opportunities available, such as residential mortgage loans, commercial real estate loans for multifamily and commercial properties, business banking loans for small businesses, loans for financing equipment for small businesses, and multifamily and commercial real estate loans for commercial and multifamily properties. Among these loan choices, residential mortgage loans are among the most common.
Do you have any interest in learning more about the other hedge funds that are CUBI’s owners? On the website HoldingsChannel.com, you can find the most recent current 13F filings as well as insider trades involving Customers Bancorp, Inc. (NYSE: CUBI).