Squarepoint Ops LLC Takes Position in Customers Bancorp Inc (CUBI)

Squarepoint Ops LLC purchased a new position in shares of Customers Bancorp Inc (NYSE:CUBI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 60,454 shares of the bank’s stock, valued at approximately $1,100,000. Squarepoint Ops LLC owned 0.19% of Customers Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in Customers Bancorp by 25.5% in the third quarter. First Trust Advisors LP now owns 62,161 shares of the bank’s stock valued at $1,463,000 after acquiring an additional 12,627 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Customers Bancorp by 3.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 380,615 shares of the bank’s stock worth $8,957,000 after buying an additional 12,315 shares during the period. BlackRock Inc. boosted its position in Customers Bancorp by 3.3% during the 3rd quarter. BlackRock Inc. now owns 4,374,667 shares of the bank’s stock worth $102,936,000 after buying an additional 139,000 shares during the period. Shell Asset Management Co. acquired a new stake in Customers Bancorp during the 3rd quarter worth approximately $660,000. Finally, Panagora Asset Management Inc. acquired a new stake in Customers Bancorp during the 3rd quarter worth approximately $1,068,000. 77.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of CUBI stock opened at $21.75 on Friday. The firm has a market cap of $677.43 million, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 0.99 and a beta of 0.84. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.14 and a quick ratio of 1.14. Customers Bancorp Inc has a 12 month low of $16.72 and a 12 month high of $32.34.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. The business had revenue of $79.02 million during the quarter, compared to analyst estimates of $82.68 million. Customers Bancorp had a net margin of 15.03% and a return on equity of 12.82%. During the same quarter in the previous year, the business posted $0.64 EPS. Analysts forecast that Customers Bancorp Inc will post 2.25 EPS for the current year.

Several research firms recently commented on CUBI. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 16th. B. Riley upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $30.00 in a research note on Thursday, April 11th. Boenning Scattergood reiterated a “buy” rating on shares of Customers Bancorp in a research note on Friday, January 25th. Finally, Zacks Investment Research upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $29.95.

In related news, insider Glenn Hedde sold 1,276 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was 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 available through this link. Also, VP Steven Issa sold 6,926 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total value 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 worth $337,759 over the last ninety days. Insiders own 7.71% of the company’s stock.

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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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