AQR Capital Management LLC Has $2.17 Million Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

AQR Capital Management LLC cut its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 6.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,217 shares of the bank’s stock after selling 3,228 shares during the period. AQR Capital Management LLC owned approximately 0.14% of Customers Bancorp worth $2,170,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Customers Bancorp during the second quarter worth approximately $48,000. Innealta Capital LLC acquired a new stake in Customers Bancorp during the second quarter worth approximately $74,000. Ashton Thomas Private Wealth LLC bought a new position in Customers Bancorp during the 2nd quarter worth $151,000. Capstone Investment Advisors LLC acquired a new position in Customers Bancorp in the 1st quarter valued at $220,000. Finally, ProShare Advisors LLC lifted its position in shares of Customers Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after acquiring an additional 398 shares during the period. 89.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CUBI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a research report on Friday, August 9th. Jefferies Financial Group reduced their price target on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Raymond James lowered their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Customers Bancorp Stock Down 1.4 %

Shares of CUBI opened at $44.80 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp, Inc. has a 52 week low of $31.16 and a 52 week high of $68.49. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 6.26 and a beta of 1.61. The stock has a fifty day moving average of $48.91 and a 200-day moving average of $49.49.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $198.69 million during the quarter, compared to the consensus estimate of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Customers Bancorp, Inc. will post 6.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the purchase, the chief executive officer now owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.92% of the company’s stock.

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.