Millennium Management LLC Grows Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Millennium Management LLC grew its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 104.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,300 shares of the bank’s stock after acquiring an additional 81,755 shares during the period. Millennium Management LLC owned 0.51% of Customers Bancorp worth $7,803,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CUBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Customers Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank’s stock valued at $820,000 after purchasing an additional 645 shares during the period. Graham Capital Management L.P. purchased a new position in Customers Bancorp during the fourth quarter valued at approximately $377,000. D. E. Shaw & Co. Inc. grew its stake in Customers Bancorp by 30.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 227,143 shares of the bank’s stock valued at $11,057,000 after acquiring an additional 53,302 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Customers Bancorp during the 4th quarter worth approximately $205,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Customers Bancorp by 210.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 29,658 shares of the bank’s stock worth $1,444,000 after purchasing an additional 20,094 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CUBI. Keefe, Bruyette & Woods reduced their price target on shares of 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. Wall Street Zen lowered Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. B. Riley boosted their target price on Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Maxim Group upped their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, DA Davidson lifted their price target on Customers Bancorp from $68.00 to $71.00 and gave the company 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 issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of “Hold” and a consensus target price of $64.00.

Customers Bancorp Price Performance

CUBI opened at $50.75 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.60 billion, a P/E ratio of 9.99 and a beta of 1.51. The stock has a 50-day moving average price of $49.36 and a 200-day moving average price of $51.59. Customers Bancorp, Inc. has a 12-month low of $40.75 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.26. The company had revenue of $194.28 million during the quarter, compared to the consensus estimate of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same quarter in the previous year, the company posted $1.68 EPS. Equities analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

About Customers Bancorp

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.