Meeder Asset Management Inc. acquired a new position in Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) during the first trimester, Participation channel reports. The institutional investor acquired 734 shares of the bank, valued at around $39,000.
Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Maryland State Retirement & Pension System increased its position in Customers Bancorp by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank worth $777,000 after acquiring 161 additional shares in the last quarter. Lazard Asset Management LLC increased its stake in Customers Bancorp shares by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank valued at $44,000 after buying 284 additional shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Customers Bancorp by 7.1% in the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank worth $228,000 after buying 290 more shares last quarter. Louisiana State Employees Retirement System increased its position in Customers Bancorp 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the bank worth $696,000 after buying 300 more shares in the last quarter. Finally, USA Financial Portformulas Corp increased its stake in Customers Bancorp by 30.2% during the fourth quarter. USA Financial Portformulas Corp now owns 2,001 shares of the bank valued at $131,000 after buying an additional 464 shares last quarter. Institutional investors hold 83.48% of the company’s shares.
Changes to analyst ratings
Several research companies have recently published reports on CUBI. B. Riley reduced his price target on Customers Bancorp from $90.00 to $85.00 in a Monday July 11 research note. DA Davidson reissued a “neutral” rating on Customers Bancorp stock in a Wednesday July 27 research report. Maxim Group reaffirmed a “buy” rating and set a price target of $85.00 on Customers Bancorp stock in a Friday, April 29 report. Jefferies Financial Group cut its price target on Customers Bancorp stock from $63.00 to $48.00 in a Monday, July 11 research report. Finally, Stephens lowered his price target on Customers Bancorp from $54.00 to $52.00 and set an “equal weight” rating on the stock in a Tuesday, Aug. 2 research report. Four analysts rated the stock with a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus price target of $69.57.
Bancorp Customers Trading down 0.6%
Bancorp Equity Clients opened at $36.30 on Wednesday. Bancorp, Inc. Clients has a 12-month low of $32.19 and a 12-month high of $76.13. The stock has a market capitalization of $1.18 billion, a price-earnings ratio of 3.64 and a beta of 1.60. The company has a 50-day moving average price of $36.49 and a two-hundred-day moving average price of $44.53. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt ratio of 0.67.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly results on Wednesday, July 27. The bank reported earnings per share of $1.68 for the quarter, missing analyst consensus estimates of $1.76 per ($0.08). Clients Bancorp had a return on equity of 29.54% and a net margin of 38.56%. During the same quarter last year, the company posted EPS of $1.76. As a group, stock analysts expect Customers Bancorp, Inc. to post EPS of 7.38 for the current year.
About Bancorp Customers
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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