Wedge Capital Management L L P NC Sells 13,334 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Wedge Capital Management L L P NC lessened its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,407 shares of the bank’s stock after selling 13,334 shares during the quarter. Wedge Capital Management L L P NC owned 0.13% of Customers Bancorp worth $2,028,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CUBI. Millennium Management LLC lifted its position in Customers Bancorp by 104.1% during the fourth quarter. Millennium Management LLC now owns 160,300 shares of the bank’s stock worth $7,803,000 after purchasing an additional 81,755 shares during the period. Proficio Capital Partners LLC bought a new stake in Customers Bancorp during the fourth quarter worth about $1,277,000. Envestnet Asset Management Inc. lifted its holdings in shares of Customers Bancorp by 20.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank’s stock worth $865,000 after acquiring an additional 2,994 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Customers Bancorp by 1.0% in the fourth quarter. Swiss National Bank now owns 59,200 shares of the bank’s stock worth $2,882,000 after acquiring an additional 600 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Customers Bancorp in the fourth quarter worth about $202,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Up 1.0%

Shares of NYSE CUBI opened at $53.32 on Wednesday. Customers Bancorp, Inc. has a 12 month low of $40.75 and a 12 month high of $68.49. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 10.50 and a beta of 1.53. The business has a 50-day moving average of $49.51 and a 200-day moving average of $51.33.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.26. The firm had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same quarter in the prior year, the firm posted $1.68 earnings per share. Sell-side analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on CUBI shares. Keefe, Bruyette & Woods dropped 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 report on Monday, April 28th. Wall Street Zen raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, B. Riley increased their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Company Profile

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.