Thrivent Financial For Lutherans Grows Position in Customers Bancorp, Inc (CUBI)
Thrivent Financial For Lutherans increased its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 99.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,170 shares of the bank’s stock after acquiring an additional 16,010 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.10% of Customers Bancorp worth $910,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Customers Bancorp in the second quarter worth about $123,000. BNP Paribas Arbitrage SA raised its holdings in Customers Bancorp by 10.4% in the first quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock worth $161,000 after purchasing an additional 479 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Customers Bancorp by 8.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock worth $158,000 after purchasing an additional 450 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Customers Bancorp by 80.2% in the second quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock worth $159,000 after purchasing an additional 2,517 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Customers Bancorp by 8.3% in the first quarter. US Bancorp DE now owns 5,890 shares of the bank’s stock worth $186,000 after purchasing an additional 450 shares in the last quarter. 87.56% of the stock is owned by institutional investors.
Customers Bancorp, Inc (CUBI) opened at 32.56 on Monday. Customers Bancorp, Inc has a one year low of $24.37 and a one year high of $36.93. The firm has a 50-day moving average of $29.56 and a 200-day moving average of $29.43. The company has a market capitalization of $1.00 billion, a P/E ratio of 13.32 and a beta of 0.67.
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 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 business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. On average, analysts anticipate that Customers Bancorp, Inc will post $2.54 earnings per share for the current year.
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CUBI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 target price on shares of Customers Bancorp in a report on Friday, June 30th. BidaskClub downgraded shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Finally, Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $39.50.
Customers Bancorp 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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