Royce & Associates LP Purchases 15,555 Shares of Customers Bancorp Inc (NYSE:CUBI)

Royce & Associates LP lifted its position in Customers Bancorp Inc (NYSE:CUBI) by 1,061.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,020 shares of the bank’s stock after purchasing an additional 15,555 shares during the period. Royce & Associates LP owned about 0.05% of Customers Bancorp worth $312,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CUBI. Morgan Stanley lifted its holdings in shares of Customers Bancorp by 39.7% in the 3rd quarter. Morgan Stanley now owns 119,027 shares of the bank’s stock worth $2,800,000 after acquiring an additional 33,800 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Customers Bancorp by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,750,099 shares of the bank’s stock valued at $41,180,000 after acquiring an additional 22,159 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Customers Bancorp by 116.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,726 shares of the bank’s stock valued at $31,000 after acquiring an additional 928 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Customers Bancorp by 6.2% during the 4th quarter. Arizona State Retirement System now owns 44,870 shares of the bank’s stock valued at $817,000 after acquiring an additional 2,604 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Customers Bancorp during the 4th quarter valued at about $185,000. 81.07% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on CUBI shares. ValuEngine raised shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 16th. B. Riley upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $30.00 in a research note on Thursday, April 11th. Zacks Investment Research cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 25th. Finally, TheStreet cut shares of Customers Bancorp from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.95.

Shares of NYSE:CUBI traded down $0.24 on Monday, hitting $20.76. 235,005 shares of the company’s stock were exchanged, compared to its average volume of 174,926. Customers Bancorp Inc has a 12 month low of $16.72 and a 12 month high of $30.01. The company has a market capitalization of $654.06 million, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.96 and a beta of 1.02. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $20.44.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, April 24th. The bank reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The business had revenue of $79.02 million during the quarter, compared to the consensus estimate of $82.68 million. Customers Bancorp had a return on equity of 10.90% and a net margin of 13.13%. During the same period in the prior year, the company posted $0.64 EPS. On average, research analysts anticipate that Customers Bancorp Inc will post 2.2 earnings per share for the current fiscal year.

Customers Bancorp Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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