Geode Capital Management LLC Has $5.47 Million Position in Customers Bancorp Inc (CUBI)

Geode Capital Management LLC lifted its position in shares of Customers Bancorp Inc (NYSE:CUBI) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 300,429 shares of the bank’s stock after buying an additional 15,289 shares during the quarter. Geode Capital Management LLC owned approximately 0.95% of Customers Bancorp worth $5,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in shares of Customers Bancorp by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 1,750,099 shares of the bank’s stock valued at $41,180,000 after buying an additional 22,159 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Customers Bancorp by 10.6% during the 4th quarter. Prudential Financial Inc. now owns 661,610 shares of the bank’s stock valued at $12,041,000 after buying an additional 63,435 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Customers Bancorp by 20.4% during the 4th quarter. Rhumbline Advisers now owns 83,887 shares of the bank’s stock valued at $1,527,000 after buying an additional 14,198 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Customers Bancorp by 2.4% during the 4th quarter. BlackRock Inc. now owns 4,480,650 shares of the bank’s stock valued at $81,547,000 after buying an additional 105,983 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Customers Bancorp by 269.3% during the 4th quarter. Citigroup Inc. now owns 80,594 shares of the bank’s stock valued at $1,467,000 after buying an additional 58,769 shares in the last quarter. Institutional investors own 77.47% of the company’s stock.

A number of research analysts recently weighed in on CUBI shares. ValuEngine cut shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 10th. Zacks Investment Research cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Boenning Scattergood restated a “buy” rating and set a $22.75 target price on shares of Customers Bancorp in a research note on Wednesday, December 26th. Finally, B. Riley upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $30.00 in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $29.95.

In other Customers Bancorp news, insider Glenn Hedde sold 1,276 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $21.65, for a total value of $27,625.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Steven Issa sold 6,926 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was 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. In the last quarter, insiders sold 16,004 shares of company stock worth $337,759. Corporate insiders own 7.71% of the company’s stock.

Shares of CUBI stock opened at $22.30 on Friday. The firm has a market capitalization of $694.56 million, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.99 and a beta of 0.84. Customers Bancorp Inc has a 52 week low of $16.72 and a 52 week high of $32.34. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.14 and a current ratio of 1.14.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $61.50 million for the quarter, compared to analysts’ expectations of $64.38 million. Customers Bancorp had a net margin of 15.03% and a return on equity of 12.82%. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. As a group, equities 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.

See Also: Systematic Risk and Investors

Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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