Assenagon Asset Management S.A. reduced its position in Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) by 74.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,424 shares of the bank’s stock after selling 95,120 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Customers Bancorp worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Strs Ohio grew its stake in Customers Bancorp by 4.4% in the 3rd quarter. Strs Ohio now owns 23,600 shares of the bank’s stock valued at $695,000 after buying an additional 1,000 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Customers Bancorp during the 3rd quarter valued at $82,000. Mraz Amerine & Associates Inc. grew its holdings in Customers Bancorp by 4.0% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 34,201 shares of the bank’s stock valued at $1,008,000 after buying an additional 1,327 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Customers Bancorp by 12.6% during the third quarter. Thompson Siegel & Walmsley LLC now owns 267,019 shares of the bank’s stock valued at $7,872,000 after buying an additional 29,800 shares during the period. Finally, Ziegler Capital Management LLC boosted its position in shares of Customers Bancorp by 43.6% in the third quarter. Ziegler Capital Management LLC now owns 43,560 shares of the bank’s stock valued at $1,284,000 after acquiring an additional 13,227 shares during the period. 84.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
CUBI has been the topic of a number of recent analyst reports. StockNews.com began coverage on Customers Bancorp in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Hovde Group lowered their target price on shares of Customers Bancorp to $44.00 in a research note on Tuesday, November 1st. Stephens set a $45.00 price target on shares of Customers Bancorp in a research note on Wednesday, November 23rd. Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Customers Bancorp in a research report on Wednesday, September 28th. Finally, DA Davidson reissued a “buy” rating on shares of Customers Bancorp in a report on Wednesday, December 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.50.
Customers Bancorp Price Performance
Shares of Customers Bancorp stock opened at $29.62 on Monday. The company’s fifty day simple moving average is $30.06 and its two-hundred day simple moving average is $32.92. Customers Bancorp, Inc. has a 12-month low of $26.43 and a 12-month high of $75.45. The firm has a market cap of $963.09 million, a PE ratio of 3.45 and a beta of 1.60. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.
Customers Bancorp (NYSE:CUBI – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The bank reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.25. The company had revenue of $150.02 million for the quarter, compared to the consensus estimate of $176.53 million. Customers Bancorp had a return on equity of 26.39% and a net margin of 34.42%. As a group, equities analysts expect that Customers Bancorp, Inc. will post 7.78 EPS for the current 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. The company offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.
Want to see what other hedge funds are holding CUBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Customers Bancorp, Inc. (NYSE:CUBI – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider Customers Bancorp, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Customers Bancorp wasn’t on the list.
While Customers Bancorp currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here