Customers Bancorp, Inc $CUBI Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC trimmed its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 32.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,343 shares of the bank’s stock after selling 8,327 shares during the period. Pacific Ridge Capital Partners LLC owned about 0.05% of Customers Bancorp worth $1,268,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Access Investment Management LLC raised its position in Customers Bancorp by 15.7% in the third quarter. Access Investment Management LLC now owns 132,415 shares of the bank’s stock worth $8,656,000 after acquiring an additional 18,000 shares in the last quarter. EJF Capital LLC purchased a new stake in shares of Customers Bancorp during the 3rd quarter worth $1,711,000. Principal Financial Group Inc. boosted its position in shares of Customers Bancorp by 23.4% during the 3rd quarter. Principal Financial Group Inc. now owns 179,762 shares of the bank’s stock worth $11,751,000 after purchasing an additional 34,081 shares in the last quarter. Fortress Investment Group LLC acquired a new position in shares of Customers Bancorp during the 3rd quarter worth $2,860,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Customers Bancorp by 5.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 421,852 shares of the bank’s stock worth $31,428,000 after purchasing an additional 23,129 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Trading Down 4.0%

Shares of CUBI stock opened at $74.16 on Tuesday. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.41 and a beta of 1.52. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $71.73 and a 200 day moving average price of $72.24. Customers Bancorp, Inc has a twelve month low of $49.54 and a twelve month high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.09. The company had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The firm’s revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period last year, the company earned $1.54 EPS. Research analysts forecast that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.

Customers Bancorp announced that its board has approved a stock buyback program on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently commented on CUBI. Morgan Stanley decreased their price objective on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. JPMorgan Chase & Co. reduced their price objective on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Wall Street Zen cut Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Stephens raised shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target on the stock in a report on Monday, March 16th. Finally, Zacks Research cut shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and an average target price of $87.50.

Customers Bancorp Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid?market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset?based lending and treasury management services.