Northern Trust Corp trimmed its holdings in shares of Customers Bancorp Inc (NYSE:CUBI) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 377,875 shares of the bank’s stock after selling 8,088 shares during the quarter. Northern Trust Corp’s holdings in Customers Bancorp were worth $6,877,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Customers Bancorp by 116.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,726 shares of the bank’s stock worth $31,000 after purchasing an additional 928 shares during the period. Acadian Asset Management LLC acquired a new position in Customers Bancorp in the 4th quarter worth approximately $75,000. Financial Gravity Companies Inc. acquired a new position in Customers Bancorp in the 4th quarter worth approximately $127,000. Rehmann Capital Advisory Group boosted its stake in Customers Bancorp by 2,252.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 3,364 shares of the bank’s stock worth $143,000 after purchasing an additional 3,221 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in Customers Bancorp in the 4th quarter worth approximately $185,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.
CUBI stock opened at $22.88 on Wednesday. Customers Bancorp Inc has a 12-month low of $16.72 and a 12-month high of $32.34. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $680.53 million, a price-to-earnings ratio of 9.00, a P/E/G ratio of 0.97 and a beta of 0.84.
Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 24th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $61.50 million during the quarter, compared to the consensus estimate of $64.38 million. Customers Bancorp had a net margin of 15.03% and a return on equity of 12.82%. The company’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, research analysts expect that Customers Bancorp Inc will post 2.25 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on CUBI shares. B. Riley upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $23.00 to $30.00 in a research report on Thursday, April 11th. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. Boenning Scattergood reiterated a “buy” rating on shares of Customers Bancorp in a research report on Friday, January 25th. Zacks Investment Research upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Maxim Group set a $38.00 target price on shares of Customers Bancorp and gave the stock a “buy” rating in a research report on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.95.
In other Customers Bancorp news, VP Steven Issa sold 6,926 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total value of $141,844.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Glenn Hedde sold 7,802 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $21.57, for a total transaction of $168,289.14. The disclosure for this sale can be found here. Insiders have sold a total of 16,004 shares of company stock worth $337,759 in the last 90 days. 7.71% of the stock is owned by insiders.
Customers Bancorp Company 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.
Read More: Return on Investment (ROI)
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