Inspire Investing LLC Decreases Stock Position in Customers Bancorp, Inc $CUBI

Inspire Investing LLC reduced its position in Customers Bancorp, Inc (NYSE:CUBI) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,560 shares of the bank’s stock after selling 268 shares during the period. Inspire Investing LLC’s holdings in Customers Bancorp were worth $385,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in Customers Bancorp by 8.2% in the second quarter. State of Alaska Department of Revenue now owns 17,480 shares of the bank’s stock worth $1,026,000 after purchasing an additional 1,326 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Customers Bancorp in the second quarter worth approximately $239,000. Voya Investment Management LLC boosted its holdings in Customers Bancorp by 30.9% in the first quarter. Voya Investment Management LLC now owns 24,741 shares of the bank’s stock worth $1,242,000 after purchasing an additional 5,835 shares during the last quarter. Militia Capital Partners LP boosted its holdings in Customers Bancorp by 255.6% in the first quarter. Militia Capital Partners LP now owns 16,000 shares of the bank’s stock worth $803,000 after purchasing an additional 11,500 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Customers Bancorp by 20.3% in the first quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock worth $3,377,000 after purchasing an additional 11,346 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $60.45 on Friday. The stock has a 50 day moving average of $66.85 and a 200 day moving average of $58.63. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $72.51. The firm has a market cap of $1.91 billion, a PE ratio of 14.96 and a beta of 1.55. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. The firm had revenue of $206.82 million for the quarter. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. On average, research analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CUBI. B. Riley raised their target price on shares of Customers Bancorp from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Customers Bancorp in a research note on Wednesday, October 8th. Zacks Research cut shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Customers Bancorp from $71.00 to $76.00 and gave the stock a “market perform” rating in a research note on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.88.

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.