Quadrature Capital Ltd Sells 4,199 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Quadrature Capital Ltd lowered its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 28.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,508 shares of the bank’s stock after selling 4,199 shares during the quarter. Quadrature Capital Ltd’s holdings in Customers Bancorp were worth $605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cornercap Investment Counsel Inc. purchased a new stake in Customers Bancorp in the 4th quarter valued at about $1,254,000. Access Investment Management LLC purchased a new position in shares of Customers Bancorp in the 4th quarter worth about $16,194,000. Assenagon Asset Management S.A. grew its position in Customers Bancorp by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock valued at $10,554,000 after buying an additional 91,311 shares during the period. Numerai GP LLC purchased a new stake in Customers Bancorp during the third quarter worth about $363,000. Finally, American Century Companies Inc. raised its position in Customers Bancorp by 14.6% in the third quarter. American Century Companies Inc. now owns 364,767 shares of the bank’s stock worth $12,566,000 after acquiring an additional 46,347 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CUBI. Hovde Group reduced their target price on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Jefferies Financial Group raised their target price on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Wedbush dropped their price target on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $45.42 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp, Inc. has a fifty-two week low of $27.10 and a fifty-two week high of $60.09. The stock has a market cap of $1.43 billion, a PE ratio of 6.34 and a beta of 1.63. The stock has a fifty day moving average of $46.42 and a 200-day moving average of $50.58.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The firm had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. During the same quarter last year, the company posted $1.58 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Customers Bancorp, Inc. will post 6.38 earnings per share for the current year.

Customers Bancorp Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.