Bank of America Corp DE Decreases Position in Customers Bancorp, Inc. (NYSE:CUBI)

Bank of America Corp DE trimmed its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 64.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,529 shares of the bank’s stock after selling 86,997 shares during the quarter. Bank of America Corp DE owned about 0.15% of Customers Bancorp worth $2,362,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock worth $28,000 after purchasing an additional 189 shares in the last quarter. R Squared Ltd purchased a new position in Customers Bancorp in the 4th quarter worth approximately $42,000. KBC Group NV lifted its stake in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after purchasing an additional 677 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Customers Bancorp by 323.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock worth $151,000 after purchasing an additional 254 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CUBI. B. Riley lifted their price target on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Wall Street Zen lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Customers Bancorp Stock Down 0.5%

Customers Bancorp stock opened at $50.73 on Tuesday. Customers Bancorp, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a 50 day moving average price of $49.29 and a 200 day moving average price of $51.43. The company has a market capitalization of $1.60 billion, a PE ratio of 9.99 and a beta of 1.51.

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

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.