Ellington Management Group LLC bought a new stake in shares of Customers Bancorp Inc (NYSE:CUBI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,800 shares of the bank’s stock, valued at approximately $333,000.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Customers Bancorp by 3.4% during the 4th quarter. BlackRock Inc. now owns 3,767,665 shares of the bank’s stock valued at $97,920,000 after purchasing an additional 124,229 shares during the period. Dimensional Fund Advisors LP increased its position in Customers Bancorp by 8.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock valued at $69,723,000 after purchasing an additional 159,979 shares during the period. Ameriprise Financial Inc. increased its position in Customers Bancorp by 3.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock valued at $45,913,000 after purchasing an additional 46,459 shares during the period. Alliancebernstein L.P. increased its position in Customers Bancorp by 0.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,157,952 shares of the bank’s stock valued at $30,095,000 after purchasing an additional 5,110 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its position in Customers Bancorp by 6.0% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 606,110 shares of the bank’s stock valued at $19,772,000 after purchasing an additional 34,476 shares during the period. 79.64% of the stock is owned by institutional investors and hedge funds.
In related news, insider Glenn Hedde sold 1,232 shares of Customers Bancorp stock in a transaction on Monday, March 5th. The shares were sold at an average price of $29.68, for a total value of $36,565.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 2,236 shares of company stock valued at $66,951. 8.67% of the stock is currently owned by insiders.
Shares of Customers Bancorp Inc (CUBI) opened at $31.95 on Friday. The company has a market cap of $1,004.48, a P/E ratio of 12.06, a PEG ratio of 1.18 and a beta of 0.77. Customers Bancorp Inc has a 52-week low of $24.75 and a 52-week high of $33.85. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 2.45.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). Customers Bancorp had a return on equity of 14.11% and a net margin of 18.64%. The company had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.02 million. During the same period last year, the business earned $0.62 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. research analysts expect that Customers Bancorp Inc will post 2.7 earnings per share for the current year.
A number of analysts have weighed in on CUBI shares. ValuEngine raised shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Maxim Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research report on Wednesday, November 22nd. B. Riley initiated coverage on shares of Customers Bancorp in a research report on Friday, December 8th. They set a “buy” rating and a $35.00 price objective for the company. Zacks Investment Research downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Customers Bancorp in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Customers Bancorp has an average rating of “Hold” and an average target price of $37.67.
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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