Customers Bancorp (CUBI) Shares Bought by Eagle Boston Investment Management Inc.

Eagle Boston Investment Management Inc. increased its stake in Customers Bancorp (NYSE:CUBI) by 2.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 390,577 shares of the bank’s stock after buying an additional 9,914 shares during the quarter. Eagle Boston Investment Management Inc. owned 1.24% of Customers Bancorp worth $11,385,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. GW&K Investment Management LLC purchased a new position in shares of Customers Bancorp in the 1st quarter worth about $244,000. Stevens Capital Management LP boosted its holdings in shares of Customers Bancorp by 142.2% in the 1st quarter. Stevens Capital Management LP now owns 21,877 shares of the bank’s stock worth $638,000 after buying an additional 12,843 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Customers Bancorp by 10.9% in the 1st quarter. Thrivent Financial for Lutherans now owns 19,844 shares of the bank’s stock worth $578,000 after buying an additional 1,951 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Customers Bancorp by 13.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 342,005 shares of the bank’s stock worth $9,970,000 after buying an additional 39,242 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Customers Bancorp by 7.6% in the 1st quarter. Prudential Financial Inc. now owns 479,360 shares of the bank’s stock worth $13,973,000 after buying an additional 33,690 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.

In other news, insider Glenn Hedde sold 1,232 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $29.68, for a total transaction of $36,565.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Steven Issa sold 1,001 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $29.86, for a total value of $29,889.86. The disclosure for this sale can be found here. Insiders sold a total of 14,680 shares of company stock worth $432,522 over the last 90 days. 8.67% of the stock is currently owned by company insiders.

A number of equities analysts recently weighed in on the stock. B. Riley reissued a “buy” rating and issued a $41.00 price target on shares of Customers Bancorp in a report on Thursday, January 25th. Zacks Investment Research cut Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. DA Davidson assumed coverage on Customers Bancorp in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $33.00 price objective on the stock. ValuEngine cut Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Sandler O’Neill restated a “hold” rating and issued a $33.00 price objective on shares of Customers Bancorp in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Customers Bancorp currently has an average rating of “Hold” and an average target price of $37.42.

Shares of Customers Bancorp opened at $29.56 on Friday, MarketBeat reports. Customers Bancorp has a 52-week low of $29.37 and a 52-week high of $29.47. The stock has a market capitalization of $923.21 million, a P/E ratio of 11.36, a PEG ratio of 1.08 and a beta of 0.81. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 3.37.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Monday, April 30th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. Customers Bancorp had a return on equity of 13.51% and a net margin of 17.07%. The business had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $65.38 million. During the same period in the previous year, the business posted $0.67 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts forecast that Customers Bancorp will post 2.71 EPS for the current year.

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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