Pacific Ridge Capital Partners LLC Has $1.77 Million Position in Customers Bancorp Inc (CUBI)

Pacific Ridge Capital Partners LLC boosted its stake in shares of Customers Bancorp Inc (NYSE:CUBI) by 9.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,180 shares of the bank’s stock after purchasing an additional 6,460 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Customers Bancorp were worth $1,769,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. 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 acquiring an additional 139,000 shares during the period. Dimensional Fund Advisors LP boosted its position in Customers Bancorp by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,660,288 shares of the bank’s stock worth $62,596,000 after acquiring an additional 30,627 shares during the period. Prudential Financial Inc. boosted its position in Customers Bancorp by 3.0% during the 3rd quarter. Prudential Financial Inc. now owns 598,175 shares of the bank’s stock worth $14,075,000 after acquiring an additional 17,191 shares during the period. OppenheimerFunds Inc. boosted its position in Customers Bancorp by 2.8% during the 2nd quarter. OppenheimerFunds Inc. now owns 452,416 shares of the bank’s stock worth $12,839,000 after acquiring an additional 12,462 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Customers Bancorp by 20.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 413,123 shares of the bank’s stock worth $11,725,000 after acquiring an additional 71,118 shares during the period. Institutional investors and hedge funds own 79.87% of the company’s stock.

CUBI opened at $18.08 on Friday. Customers Bancorp Inc has a one year low of $17.59 and a one year high of $32.34. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $574.81 million, a PE ratio of 8.22, a PEG ratio of 0.72 and a beta of 0.82.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, October 25th. The bank reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.03). Customers Bancorp had a return on equity of 13.10% and a net margin of 16.01%. The firm had revenue of $66.09 million during the quarter, compared to the consensus estimate of $64.64 million. On average, research analysts forecast that Customers Bancorp Inc will post 2.53 EPS for the current year.

A number of brokerages have issued reports on CUBI. Zacks Investment Research lowered Customers Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 18th. ValuEngine lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 13th. Maxim Group reiterated a “buy” rating and set a $46.00 price target on shares of Customers Bancorp in a research report on Tuesday, August 14th. Boenning Scattergood reiterated a “hold” rating on shares of Customers Bancorp in a research report on Wednesday, October 17th. Finally, B. Riley lowered Customers Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $23.00 in a research report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.33.

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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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