American Century Companies Inc. Buys 35,614 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

American Century Companies Inc. increased its stake in Customers Bancorp, Inc. (NYSE:CUBIGet Rating) by 31.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,581 shares of the bank’s stock after buying an additional 35,614 shares during the period. American Century Companies Inc. owned 0.45% of Customers Bancorp worth $7,747,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Customers Bancorp during the fourth quarter valued at approximately $34,000. Lazard Asset Management LLC grew its holdings in shares of Customers Bancorp by 70.5% during the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank’s stock valued at $44,000 after buying an additional 284 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Customers Bancorp during the first quarter valued at approximately $39,000. Point72 Asset Management L.P. purchased a new stake in Customers Bancorp in the fourth quarter worth approximately $92,000. Finally, USA Financial Portformulas Corp boosted its holdings in Customers Bancorp by 30.2% in the fourth quarter. USA Financial Portformulas Corp now owns 2,001 shares of the bank’s stock worth $131,000 after purchasing an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 86.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CUBI. Jefferies Financial Group dropped their target price on shares of Customers Bancorp from $63.00 to $48.00 in a report on Monday, July 11th. Stephens dropped their target price on shares of Customers Bancorp from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 2nd. DA Davidson restated a “neutral” rating on shares of Customers Bancorp in a report on Wednesday, July 27th. Finally, B. Riley dropped their target price on shares of Customers Bancorp from $90.00 to $85.00 in a report on Monday, July 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.57.

Customers Bancorp Stock Down 2.8 %

Shares of CUBI stock opened at $33.21 on Friday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 3.33 and a beta of 1.60. Customers Bancorp, Inc. has a one year low of $32.19 and a one year high of $76.13. The company’s fifty day moving average price is $36.65 and its 200-day moving average price is $43.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88.

Customers Bancorp (NYSE:CUBIGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The bank reported $1.77 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.03). The firm had revenue of $177.60 million for the quarter, compared to the consensus estimate of $178.09 million. Customers Bancorp had a net margin of 38.56% and a return on equity of 29.54%. During the same quarter in the previous year, the business earned $1.76 earnings per share. Sell-side analysts expect that Customers Bancorp, Inc. will post 7.35 EPS for the current fiscal year.

Customers Bancorp Company Profile

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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 offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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

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