Virginia Retirement Systems ET AL Sells 3,900 Shares of Customers Bancorp (CUBI)

Virginia Retirement Systems ET AL trimmed its holdings in shares of Customers Bancorp (NYSE:CUBI) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,800 shares of the bank’s stock after selling 3,900 shares during the quarter. Virginia Retirement Systems ET AL owned 0.09% of Customers Bancorp worth $840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Customers Bancorp by 3.4% during the 4th quarter. BlackRock Inc. now owns 3,767,665 shares of the bank’s stock valued at $97,920,000 after buying an additional 124,229 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Customers Bancorp by 0.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,157,952 shares of the bank’s stock valued at $30,095,000 after buying an additional 5,110 shares in the last quarter. LSV Asset Management raised its position in Customers Bancorp by 15.3% in the 4th quarter. LSV Asset Management now owns 389,500 shares of the bank’s stock worth $10,123,000 after purchasing an additional 51,700 shares during the period. Eagle Boston Investment Management Inc. raised its position in Customers Bancorp by 4.6% in the 4th quarter. Eagle Boston Investment Management Inc. now owns 380,663 shares of the bank’s stock worth $9,893,000 after purchasing an additional 16,679 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Customers Bancorp by 16.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 302,763 shares of the bank’s stock worth $7,869,000 after purchasing an additional 43,777 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.

A number of research firms recently weighed in on CUBI. ValuEngine lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Maxim Group reissued a “buy” rating and issued a $50.00 price objective on shares of Customers Bancorp in a research report on Tuesday, May 1st. Sandler O’Neill reissued a “hold” rating and issued a $33.00 price objective on shares of Customers Bancorp in a research report on Friday, January 26th. DA Davidson began coverage on shares of Customers Bancorp in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $33.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.42.

In other news, insider Glenn Hedde sold 1,232 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $29.68, for a total transaction of $36,565.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Steven Issa sold 11,949 shares of the firm’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $29.37, for a total transaction of $350,942.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,680 shares of company stock worth $432,522. Corporate insiders own 8.67% of the company’s stock.

Customers Bancorp opened at $29.31 on Thursday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 3.37, a quick ratio of 0.95 and a current ratio of 1.21. Customers Bancorp has a 1-year low of $29.37 and a 1-year high of $29.47. The stock has a market capitalization of $925.73 million, a P/E ratio of 13.32, a PEG ratio of 1.08 and a beta of 0.81.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Monday, April 30th. The bank reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. The business had revenue of $65.03 million for the quarter, compared to analyst estimates of $65.38 million. Customers Bancorp had a net margin of 17.07% and a return on equity of 13.51%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. sell-side analysts expect that Customers Bancorp will post 2.71 EPS for the current fiscal year.

Customers Bancorp 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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