Raymond James & Associates Lowers Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Raymond James & Associates reduced its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,759 shares of the bank’s stock after selling 501 shares during the quarter. Raymond James & Associates owned approximately 0.17% of Customers Bancorp worth $2,627,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in shares of Customers Bancorp during the fourth quarter valued at $209,000. Coldstream Capital Management Inc. purchased a new stake in Customers Bancorp in the fourth quarter worth about $218,000. Versor Investments LP purchased a new stake in Customers Bancorp in the fourth quarter worth about $236,000. Capstone Investment Advisors LLC purchased a new stake in Customers Bancorp in the first quarter worth about $220,000. Finally, Quest Partners LLC purchased a new stake in Customers Bancorp in the fourth quarter worth about $312,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the acquisition, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $51.82 on Monday. The company has a market capitalization of $1.64 billion, a PE ratio of 7.24 and a beta of 1.65. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The company has a 50-day simple moving average of $53.19 and a two-hundred day simple moving average of $50.55. Customers Bancorp, Inc. has a one year low of $31.16 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The firm had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. During the same quarter in the prior year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts expect that Customers Bancorp, Inc. will post 6.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CUBI shares. Jefferies Financial Group lowered their price objective on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Wedbush upped their price objective on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Friday, August 9th. DA Davidson upped their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.50.

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.