Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its position in Customers Bancorp, Inc. (NYSE:CUBI) by 5.3% in the 4th quarter, Holdings Channel reports. The firm owned 530,574 shares of the bank’s stock after selling 29,579 shares during the quarter. Nuveen Asset Management LLC’s holdings in Customers Bancorp were worth $25,828,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its holdings in Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after buying an additional 189 shares in the last quarter. R Squared Ltd purchased a new stake in Customers Bancorp in the 4th quarter valued at $42,000. KBC Group NV grew its holdings in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after buying an additional 677 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Customers Bancorp by 323.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after buying an additional 1,255 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock valued at $151,000 after buying an additional 254 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CUBI. Maxim Group upped their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Stephens restated an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. B. Riley increased their price target on Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Keefe, Bruyette & Woods cut their price objective on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Finally, DA Davidson raised their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.00.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $51.17 on Friday. The business has a 50-day moving average of $49.37 and a 200 day moving average of $51.60. Customers Bancorp, Inc. has a 12 month low of $40.75 and a 12 month high of $68.49. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 10.07 and a beta of 1.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. The company had revenue of $194.28 million during the quarter, compared to analysts’ expectations of $165.24 million. During the same period last year, the business posted $1.68 EPS. As a group, sell-side analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Customers Bancorp Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.