Schwab Charles Investment Management Inc. Buys 52,672 Shares of Customers Bancorp, Inc (CUBI)

Schwab Charles Investment Management Inc. lifted its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 25.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,986 shares of the bank’s stock after acquiring an additional 52,672 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.84% of Customers Bancorp worth $8,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Customers Bancorp by 2.8% during the second quarter. BlackRock Inc. now owns 3,584,410 shares of the bank’s stock worth $101,365,000 after acquiring an additional 97,085 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Customers Bancorp by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,977,458 shares of the bank’s stock worth $55,924,000 after acquiring an additional 301,538 shares during the period. Vanguard Group Inc. increased its position in shares of Customers Bancorp by 3.5% during the second quarter. Vanguard Group Inc. now owns 1,502,298 shares of the bank’s stock worth $42,485,000 after acquiring an additional 50,545 shares during the period. Ameriprise Financial Inc. increased its position in shares of Customers Bancorp by 3.4% during the third quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock worth $45,913,000 after acquiring an additional 46,459 shares during the period. Finally, State Street Corp increased its position in shares of Customers Bancorp by 7.6% during the second quarter. State Street Corp now owns 1,114,816 shares of the bank’s stock worth $31,530,000 after acquiring an additional 78,363 shares during the period. 87.79% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp, Inc (NYSE CUBI) opened at $25.99 on Tuesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17. The company has a market cap of $800.65, a price-to-earnings ratio of 13.47 and a beta of 0.61. Customers Bancorp, Inc has a 12 month low of $24.75 and a 12 month high of $36.93.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). The firm had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same quarter in the previous year, the firm posted $0.64 EPS.

In other Customers Bancorp news, CFO Robert E. Wahlman sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total value of $1,333,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rick Burkey sold 1,129 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $26.74, for a total transaction of $30,189.46. Following the completion of the transaction, the director now owns 40,919 shares of the company’s stock, valued at approximately $1,094,174.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,129 shares of company stock valued at $1,603,489. Insiders own 8.67% of the company’s stock.

A number of analysts have recently weighed in on CUBI shares. Maxim Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research report on Friday, October 20th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. B. Riley started coverage on Customers Bancorp in a research report on Friday, December 8th. They set a “buy” rating and a $35.00 price objective on the stock. BidaskClub lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. Finally, ValuEngine upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $39.25.

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Customers Bancorp Company Profile

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

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

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