Customers Bancorp, Inc $CUBI Stake Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 11.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,774 shares of the bank’s stock after selling 472 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Customers Bancorp were worth $222,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CUBI. Russell Investments Group Ltd. boosted its stake in Customers Bancorp by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank’s stock valued at $4,049,000 after buying an additional 3,958 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Customers Bancorp during the 2nd quarter valued at about $418,000. Allianz Asset Management GmbH boosted its position in shares of Customers Bancorp by 34.9% during the 1st quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock valued at $427,000 after purchasing an additional 2,200 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Customers Bancorp by 20.3% during the 1st quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock valued at $3,377,000 after purchasing an additional 11,346 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Customers Bancorp during the second quarter worth approximately $239,000. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CUBI. Wall Street Zen upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. B. Riley reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday. TD Cowen raised their price objective on Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Customers Bancorp in a research note on Wednesday, October 8th. Finally, DA Davidson lifted their price target on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.78.

Customers Bancorp Trading Down 0.6%

NYSE:CUBI opened at $67.09 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51. The stock’s 50-day moving average is $67.06 and its two-hundred day moving average is $60.16. The stock has a market cap of $2.12 billion, a PE ratio of 13.61 and a beta of 1.55.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The company had revenue of $206.82 million for the quarter. As a group, equities research 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.