California State Teachers Retirement System Lowers Stake in Customers Bancorp, Inc (CUBI)
California State Teachers Retirement System cut its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,960 shares of the bank’s stock after selling 3,800 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Customers Bancorp worth $1,413,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CUBI. Flinton Capital Management LLC increased its stake in shares of Customers Bancorp by 176.7% in the second quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after buying an additional 2,584 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Customers Bancorp in the second quarter valued at $123,000. Nisa Investment Advisors LLC increased its stake in shares of Customers Bancorp by 8.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock valued at $158,000 after buying an additional 450 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of 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 valued at $159,000 after buying an additional 2,517 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Customers Bancorp in the second quarter valued at $205,000. Institutional investors own 89.16% of the company’s stock.
A number of brokerages have recently weighed in on CUBI. Maxim Group restated a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a research note on Thursday, October 26th. BidaskClub upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Boenning Scattergood lowered Customers Bancorp from an “outperform” rating to a “neutral” rating in a research report on Friday, October 20th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, TheStreet lowered Customers Bancorp from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. One investment 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’s stock. The company presently has an average rating of “Hold” and an average price target of $40.50.
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Shares of Customers Bancorp, Inc (CUBI) opened at $27.04 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $824.37, a PE ratio of 9.36 and a beta of 0.65. Customers Bancorp, Inc has a 12-month low of $24.75 and a 12-month high of $36.93.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.09). The firm had revenue of $86.05 million during the quarter, compared to analyst estimates of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same quarter in the previous year, the business earned $0.64 earnings per share. analysts anticipate that Customers Bancorp, Inc will post 2.47 EPS for the current year.
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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