Sei Investments Co. Has $1.16 Million Stake in Customers Bancorp, Inc (CUBI)
Sei Investments Co. lowered its stake in Customers Bancorp, Inc (NYSE:CUBI) by 57.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,858 shares of the bank’s stock after selling 55,127 shares during the period. Sei Investments Co. owned about 0.13% of Customers Bancorp worth $1,155,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in CUBI. State of Tennessee Treasury Department increased its stake in Customers Bancorp by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 25,893 shares of the bank’s stock valued at $816,000 after buying an additional 3,908 shares during the period. Texas Permanent School Fund increased its stake in Customers Bancorp by 0.4% in the first quarter. Texas Permanent School Fund now owns 20,615 shares of the bank’s stock valued at $650,000 after buying an additional 75 shares during the period. UBS Asset Management Americas Inc. increased its stake in Customers Bancorp by 52.9% in the first quarter. UBS Asset Management Americas Inc. now owns 10,400 shares of the bank’s stock valued at $328,000 after buying an additional 3,600 shares during the period. Swiss National Bank increased its stake in Customers Bancorp by 3.8% in the first quarter. Swiss National Bank now owns 47,000 shares of the bank’s stock valued at $1,482,000 after buying an additional 1,700 shares during the period. Finally, Comerica Bank increased its stake in Customers Bancorp by 6.9% in the first quarter. Comerica Bank now owns 31,874 shares of the bank’s stock valued at $1,003,000 after buying an additional 2,045 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
Customers Bancorp, Inc (NYSE CUBI) opened at 28.50 on Thursday. The firm’s 50-day moving average is $28.59 and its 200 day moving average is $30.34. The firm has a market capitalization of $875.81 million, a price-to-earnings ratio of 11.66 and a beta of 0.63. Customers Bancorp, Inc has a one year low of $24.37 and a one year high of $36.93.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.16. The business had revenue of $68.62 million during the quarter, compared to analysts’ expectations of $67.14 million. Customers Bancorp had a return on equity of 15.93% and a net margin of 22.81%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. Analysts forecast that Customers Bancorp, Inc will post $2.67 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Monday, July 31st. BidaskClub raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $36.00 price objective on shares of Customers Bancorp in a report on Friday, June 30th. Finally, TheStreet raised shares of Customers Bancorp from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.50.
About Customers Bancorp
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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