Elizabeth Park Capital Advisors Ltd. Increases Position in Customers Bancorp, Inc. (NYSE:CUBI)

Elizabeth Park Capital Advisors Ltd. increased its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,739 shares of the bank’s stock after acquiring an additional 2,500 shares during the quarter. Customers Bancorp makes up approximately 2.0% of Elizabeth Park Capital Advisors Ltd.’s holdings, making the stock its 26th biggest holding. Elizabeth Park Capital Advisors Ltd.’s holdings in Customers Bancorp were worth $2,338,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Customers Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock valued at $107,575,000 after acquiring an additional 21,302 shares during the last quarter. Vanguard Group Inc. grew its holdings in Customers Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after purchasing an additional 111,654 shares during the period. American Century Companies Inc. increased its position in Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after purchasing an additional 87,557 shares during the last quarter. Hood River Capital Management LLC raised its stake in Customers Bancorp by 94.3% during the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after purchasing an additional 266,462 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Customers Bancorp by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 261,907 shares of the bank’s stock valued at $12,566,000 after purchasing an additional 829 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.92% of the company’s stock.

Customers Bancorp Trading Down 4.0 %

CUBI opened at $44.00 on Thursday. The firm’s 50 day moving average is $52.12 and its 200-day moving average is $49.92. Customers Bancorp, Inc. has a 52-week low of $31.16 and a 52-week high of $68.49. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.39 billion, a P/E ratio of 6.15 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. Analysts expect that Customers Bancorp, Inc. will post 6.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. DA Davidson upped their price target on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Jefferies Financial Group dropped their target price on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. B. Riley lifted their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.25.

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.