LSV Asset Management Has $10.12 Million Holdings in Customers Bancorp, Inc (CUBI)

LSV Asset Management boosted its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 15.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 389,500 shares of the bank’s stock after buying an additional 51,700 shares during the period. LSV Asset Management owned 1.24% of Customers Bancorp worth $10,123,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in Customers Bancorp by 25.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 258,986 shares of the bank’s stock worth $8,449,000 after buying an additional 52,672 shares in the last quarter. Kalos Management Inc. increased its stake in Customers Bancorp by 23.7% in the 3rd quarter. Kalos Management Inc. now owns 21,491 shares of the bank’s stock worth $701,000 after buying an additional 4,119 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Customers Bancorp by 3.4% during the third quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock valued at $45,913,000 after purchasing an additional 46,459 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Customers Bancorp during the third quarter valued at about $301,000. Finally, KBC Group NV grew its position in shares of Customers Bancorp by 97.4% during the third quarter. KBC Group NV now owns 43,901 shares of the bank’s stock valued at $1,432,000 after purchasing an additional 21,665 shares in the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.

A number of brokerages have recently weighed in on CUBI. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday. Sandler O’Neill restated a “hold” rating and set a $33.00 price objective on shares of Customers Bancorp in a research report on Friday, January 26th. Maxim Group restated a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research report on Thursday, October 26th. BidaskClub lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $38.60.

In related news, Director Rick Burkey sold 1,129 shares of Customers Bancorp stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $26.74, for a total value of $30,189.46. Following the completion of the transaction, the director now owns 40,919 shares in the company, valued at $1,094,174.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert E. Wahlman sold 50,000 shares of Customers Bancorp stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $26.66, for a total value of $1,333,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,635 shares of company stock valued at $1,618,750. 8.67% of the stock is currently owned by company insiders.

Customers Bancorp, Inc (NYSE:CUBI) opened at $29.40 on Friday. The firm has a market capitalization of $922.63, a PE ratio of 11.09 and a beta of 0.75. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 2.45. Customers Bancorp, Inc has a 12-month low of $24.75 and a 12-month high of $35.62.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). The firm had revenue of $68.30 million for the quarter, compared to analysts’ expectations of $67.02 million. Customers Bancorp had a net margin of 18.64% and a return on equity of 14.11%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. sell-side analysts forecast that Customers Bancorp, Inc will post 2.75 EPS for the current year.

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Customers Bancorp Company Profile

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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