SRN Advisors LLC Has $543,000 Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

SRN Advisors LLC lowered its position in Customers Bancorp, Inc. (NYSE:CUBI) by 60.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,309 shares of the bank’s stock after selling 17,594 shares during the quarter. SRN Advisors LLC’s holdings in Customers Bancorp were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in CUBI. Dimensional Fund Advisors LP grew its holdings in Customers Bancorp by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares during the period. Vanguard Group Inc. grew its stake in shares of Customers Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after buying an additional 111,654 shares during the period. American Century Companies Inc. increased its position in Customers Bancorp by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock valued at $32,954,000 after buying an additional 87,557 shares in the last quarter. Hood River Capital Management LLC raised its stake in Customers Bancorp by 94.3% during the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after buying an additional 266,462 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Customers Bancorp by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 261,907 shares of the bank’s stock worth $12,566,000 after acquiring an additional 829 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $44.31 on Wednesday. Customers Bancorp, Inc. has a 1-year low of $31.16 and a 1-year high of $68.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The business has a 50 day moving average of $51.15 and a 200 day moving average of $49.77. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 6.19 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share. On average, sell-side analysts predict that Customers Bancorp, Inc. will post 6.34 earnings per share for the current fiscal year.

Insider Activity

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the transaction, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. DA Davidson upped their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. B. Riley increased their price target on 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 target price for the company. in a research report on Friday, August 9th. Keefe, Bruyette & Woods lowered their price target on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.25.

About Customers Bancorp

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.