Teacher Retirement System of Texas Makes New Investment in Customers Bancorp, Inc (NYSE:CUBI)

Teacher Retirement System of Texas bought a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,357 shares of the bank’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $46,000. GAMMA Investing LLC grew its position in shares of Customers Bancorp by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after purchasing an additional 403 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Customers Bancorp by 8.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock valued at $151,000 after purchasing an additional 254 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $202,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $205,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Down 0.1%

Shares of Customers Bancorp stock opened at $64.06 on Friday. The company has a fifty day simple moving average of $56.04 and a 200-day simple moving average of $52.62. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $68.49. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 16.14 and a beta of 1.55.

Customers Bancorp (NYSE:CUBI) last issued its quarterly 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 firm had revenue of $194.28 million during the quarter, compared to analysts’ expectations of $165.24 million. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. During the same quarter in the prior year, the business earned $1.68 EPS. On average, equities analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, July 11th. Finally, B. Riley lifted their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.33.

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.