Rhumbline Advisers Cuts Position in Customers Bancorp, Inc. (NYSE:CUBI)

Rhumbline Advisers lessened its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,638 shares of the bank’s stock after selling 3,810 shares during the quarter. Rhumbline Advisers owned 0.28% of Customers Bancorp worth $4,399,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Hood River Capital Management LLC increased its position in Customers Bancorp by 40.1% during the fourth quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock worth $71,606,000 after buying an additional 421,335 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Customers Bancorp by 5.9% in the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock worth $37,667,000 after buying an additional 42,965 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Customers Bancorp by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock worth $20,912,000 after buying an additional 106,895 shares during the period. Northern Trust Corp raised its stake in shares of Customers Bancorp by 19.1% during the fourth quarter. Northern Trust Corp now owns 381,684 shares of the bank’s stock valued at $18,580,000 after purchasing an additional 61,224 shares during the period. Finally, Tieton Capital Management LLC boosted its position in Customers Bancorp by 22.9% in the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank’s stock valued at $14,135,000 after buying an additional 54,170 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $50.22 on Friday. Customers Bancorp, Inc. has a 12-month low of $40.75 and a 12-month high of $68.49. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.59 billion, a P/E ratio of 9.89 and a beta of 1.53. The company’s fifty day moving average is $50.03 and its two-hundred day moving average is $51.26.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. B. Riley raised their target price on Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.