Kalos Management Inc. Invests $491,000 in Customers Bancorp, Inc (CUBI) Stock

Kalos Management Inc. bought a new stake in Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,372 shares of the bank’s stock, valued at approximately $491,000. Kalos Management Inc. owned 0.06% of Customers Bancorp as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Customers Bancorp by 68,969.6% in the 1st quarter. BlackRock Inc. now owns 3,487,325 shares of the bank’s stock valued at $109,954,000 after buying an additional 3,482,276 shares during the period. State Street Corp raised its holdings in shares of Customers Bancorp by 43.3% in the 1st quarter. State Street Corp now owns 1,036,453 shares of the bank’s stock valued at $32,681,000 after buying an additional 313,181 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Customers Bancorp by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,977,458 shares of the bank’s stock valued at $55,924,000 after buying an additional 301,538 shares during the period. New Amsterdam Partners LLC NY purchased a new stake in shares of Customers Bancorp in the 2nd quarter valued at $7,404,000. Finally, Teachers Advisors LLC raised its holdings in shares of Customers Bancorp by 348.5% in the 2nd quarter. Teachers Advisors LLC now owns 310,683 shares of the bank’s stock valued at $8,786,000 after buying an additional 241,407 shares during the period. Institutional investors own 87.56% of the company’s stock.

CUBI has been the topic of several research analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price objective on shares of Customers Bancorp in a report on Friday, June 30th. BidaskClub downgraded Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Finally, Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Customers Bancorp has a consensus rating of “Buy” and an average price target of $39.50.

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Customers Bancorp, Inc (NYSE CUBI) traded up 0.06% during midday trading on Wednesday, hitting $33.08. The company had a trading volume of 28,363 shares. The stock has a 50 day moving average of $29.86 and a 200 day moving average of $29.45. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 11.73 and a beta of 0.67. Customers Bancorp, Inc has a 52-week low of $24.37 and a 52-week high of $36.93.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.16. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. The firm had revenue of $68.62 million during the quarter, compared to analyst estimates of $67.14 million. During the same quarter in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Customers Bancorp, Inc will post $2.54 EPS for the current year.

Customers Bancorp 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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