California State Teachers Retirement System Reduces Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

California State Teachers Retirement System reduced its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,121 shares of the bank’s stock after selling 299 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Customers Bancorp worth $1,369,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hood River Capital Management LLC lifted its holdings in Customers Bancorp by 40.1% during the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock worth $71,606,000 after purchasing an additional 421,335 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Customers Bancorp in the fourth quarter worth about $7,672,000. Shellback Capital LP purchased a new stake in shares of Customers Bancorp in the fourth quarter worth about $5,257,000. JPMorgan Chase & Co. lifted its stake in Customers Bancorp by 33.1% in the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock worth $20,912,000 after purchasing an additional 106,895 shares in the last quarter. Finally, Gator Capital Management LLC lifted its stake in Customers Bancorp by 135.0% in the 4th quarter. Gator Capital Management LLC now owns 178,801 shares of the bank’s stock worth $8,704,000 after purchasing an additional 102,701 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CUBI. B. Riley increased their price objective on Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods lowered their price target on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Customers Bancorp Stock Up 3.2%

CUBI opened at $52.33 on Monday. The firm has a 50-day simple moving average of $49.33 and a two-hundred day simple moving average of $51.34. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49. The company has a market capitalization of $1.65 billion, a PE ratio of 10.30 and a beta of 1.53. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating the consensus estimate of $1.28 by $0.26. The business had revenue of $194.28 million during the quarter, compared to analyst estimates 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 business earned $1.68 earnings per share. Analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp Company 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.