MetLife Investment Advisors LLC Trims Position in Customers Bancorp Inc (CUBI)

MetLife Investment Advisors LLC trimmed its holdings in shares of Customers Bancorp Inc (NYSE:CUBI) by 35.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,560 shares of the bank’s stock after selling 7,365 shares during the period. MetLife Investment Advisors LLC’s holdings in Customers Bancorp were worth $247,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Customers Bancorp by 116.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,726 shares of the bank’s stock worth $31,000 after buying an additional 928 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Customers Bancorp in the 4th quarter valued at approximately $75,000. Financial Gravity Companies Inc. purchased a new stake in shares of Customers Bancorp in the 4th quarter valued at approximately $127,000. Neuburgh Advisers LLC lifted its position in shares of Customers Bancorp by 16.4% in the 4th quarter. Neuburgh Advisers LLC now owns 7,656 shares of the bank’s stock valued at $139,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in shares of Customers Bancorp by 2,252.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 3,364 shares of the bank’s stock valued at $143,000 after acquiring an additional 3,221 shares in the last quarter. Hedge funds and other institutional investors own 77.47% of the company’s stock.

In related news, insider Glenn Hedde sold 7,802 shares of Customers Bancorp stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $21.57, for a total transaction of $168,289.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven Issa sold 6,926 shares of Customers Bancorp stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total transaction of $141,844.48. The disclosure for this sale can be found here. Insiders have sold a total of 16,004 shares of company stock valued at $337,759 over the last three months. 7.71% of the stock is currently owned by insiders.

Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Boenning Scattergood restated a “buy” rating on shares of Customers Bancorp in a research report on Friday, January 25th. B. Riley upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $23.00 to $30.00 in a research report on Thursday, April 11th. Zacks Investment Research upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Maxim Group set a $38.00 price target on shares of Customers Bancorp and gave the company a “buy” rating in a research report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $29.95.

CUBI stock opened at $22.30 on Friday. Customers Bancorp Inc has a 12-month low of $16.72 and a 12-month high of $32.34. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $693.91 million, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.97 and a beta of 0.84.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 24th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. Customers Bancorp had a net margin of 15.03% and a return on equity of 12.82%. The business had revenue of $61.50 million for the quarter, compared to analyst estimates of $64.38 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue was down 10.0% on a year-over-year basis. On average, research analysts expect that Customers Bancorp Inc will post 2.25 earnings per share for the current fiscal year.

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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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