Cornerstone Capital Management Holdings LLC. cut its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,434 shares of the bank’s stock after selling 6,200 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.56% of Customers Bancorp worth $5,657,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Customers Bancorp in the 3rd quarter worth about $301,000. Ameriprise Financial Inc. grew its position in Customers Bancorp by 3.4% during the 3rd 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 during the last quarter. Northern Trust Corp grew its position in Customers Bancorp by 3.0% during the 2nd quarter. Northern Trust Corp now owns 349,766 shares of the bank’s stock valued at $9,891,000 after purchasing an additional 10,292 shares during the last quarter. LSV Asset Management grew its position in Customers Bancorp by 42.5% during the 2nd quarter. LSV Asset Management now owns 268,108 shares of the bank’s stock valued at $7,582,000 after purchasing an additional 79,900 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Customers Bancorp by 22.7% during the 2nd quarter. Prudential Financial Inc. now owns 447,430 shares of the bank’s stock valued at $12,653,000 after purchasing an additional 82,680 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO Richard A. Ehst sold 9,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $26.70, for a total transaction of $240,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert E. Wahlman sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total transaction of $1,333,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,129 shares of company stock worth $1,603,489. Insiders own 8.67% of the company’s stock.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). The company had revenue of $86.05 million for the quarter, compared to analysts’ expectations of $80.32 million. Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. During the same period in the previous year, the business earned $0.64 EPS. sell-side analysts forecast that Customers Bancorp, Inc will post 2.47 earnings per share for the current year.
Several analysts recently commented on the stock. B. Riley assumed coverage on shares of Customers Bancorp in a research report on Friday, December 8th. They set a “buy” rating and a $35.00 price objective on the stock. BidaskClub raised shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, September 29th. Zacks Investment Research downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Maxim Group reissued a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research report on Thursday, October 26th. Finally, ValuEngine raised shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.25.
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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).
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