Customers Bancorp Inc (CUBI) Stake Lowered by Clean Yield Group

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Clean Yield Group lowered its holdings in Customers Bancorp Inc (NYSE:CUBI) by 60.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,573 shares of the bank’s stock after selling 36,097 shares during the quarter. Clean Yield Group owned about 0.07% of Customers Bancorp worth $555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CUBI. Riverhead Capital Management LLC increased its holdings in shares of Customers Bancorp by 44.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock valued at $192,000 after acquiring an additional 2,100 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Customers Bancorp in the 2nd quarter valued at about $196,000. Tyers Asset Management LLC increased its holdings in shares of Customers Bancorp by 44.6% in the 2nd quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock valued at $211,000 after acquiring an additional 2,296 shares during the last quarter. Private Advisor Group LLC purchased a new position in Customers Bancorp during the 2nd quarter worth approximately $251,000. Finally, Flinton Capital Management LLC grew its stake in Customers Bancorp by 44.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,044 shares of the bank’s stock worth $257,000 after buying an additional 2,788 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Customers Bancorp stock traded down $0.73 during mid-day trading on Monday, reaching $19.14. 361,733 shares of the company were exchanged, compared to its average volume of 310,010. Customers Bancorp Inc has a twelve month low of $19.71 and a twelve month high of $33.85. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 3.48. The stock has a market capitalization of $629.28 million, a price-to-earnings ratio of 8.70, a PEG ratio of 0.88 and a beta of 0.72.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. Customers Bancorp had a return on equity of 12.75% and a net margin of 16.24%. The company had revenue of $83.45 million during the quarter, compared to analysts’ expectations of $86.16 million. During the same period last year, the firm earned $0.78 EPS. Equities analysts predict that Customers Bancorp Inc will post 2.26 earnings per share for the current year.

A number of research firms recently issued reports on CUBI. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Sandler O’Neill upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Monday, October 15th. ValuEngine downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a research note on Wednesday, October 17th. Finally, Maxim Group restated a “buy” rating and set a $46.00 price target on shares of Customers Bancorp in a research note on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.80.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.

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

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