Emerald Advisers Inc. PA reduced its stake in Customers Bancorp, Inc (NYSE:CUBI) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 573,108 shares of the bank’s stock after selling 56,038 shares during the quarter. Emerald Advisers Inc. PA owned about 1.86% of Customers Bancorp worth $18,695,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of CUBI. Flinton Capital Management LLC lifted its position in Customers Bancorp by 176.7% in the 2nd quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after acquiring an additional 2,584 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Customers Bancorp in the 2nd quarter worth $123,000. Nisa Investment Advisors LLC increased its stake in Customers Bancorp by 8.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock worth $158,000 after buying an additional 450 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Customers Bancorp by 80.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock worth $159,000 after buying an additional 2,517 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Customers Bancorp in the 2nd quarter worth $205,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.
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Customers Bancorp (NYSE:CUBI) last released its earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). The company had revenue of $86.05 million for the quarter, compared to analysts’ expectations of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same period in the prior year, the firm earned $0.64 EPS.
Several research analysts have commented on CUBI shares. Maxim Group reissued a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a report on Friday, October 20th. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Monday, July 31st. BidaskClub raised shares of Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 29th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Customers Bancorp in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $40.50.
Customers Bancorp Company Profile
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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