Customers Bancorp, Inc. (NYSE:CUBI) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 65.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 80,716 shares of the bank’s stock after acquiring an additional 32,000 shares during the period. Balyasny Asset Management L.P.’s holdings in Customers Bancorp were worth $3,929,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUBI. Picton Mahoney Asset Management increased its stake in shares of Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. R Squared Ltd purchased a new position in shares of Customers Bancorp during the 4th quarter valued at approximately $42,000. KBC Group NV grew its stake in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after acquiring an additional 677 shares during the period. Smartleaf Asset Management LLC increased its holdings in Customers Bancorp by 323.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock worth $151,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Up 0.3 %

NYSE CUBI opened at $51.82 on Friday. The business’s fifty day simple moving average is $48.70 and its 200-day simple moving average is $51.15. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.63 billion, a PE ratio of 10.20 and a beta of 1.51. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The company had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. During the same period in the previous year, the business posted $1.68 EPS. As a group, equities analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CUBI shares. Keefe, Bruyette & Woods cut their target price on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. Maxim Group lifted their price target on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, DA Davidson increased their price objective on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.80.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.