Wedge Capital Management L L P NC Has $2.52 Million Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Wedge Capital Management L L P NC grew its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,341 shares of the bank’s stock after purchasing an additional 2,067 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Customers Bancorp were worth $2,524,000 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 stock. Ridgewood Investments LLC acquired a new position in Customers Bancorp in the second quarter valued at about $48,000. GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp in the 2nd quarter valued at approximately $74,000. CWM LLC boosted its stake in Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Customers Bancorp during the second quarter valued at approximately $151,000. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $47.80 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 6.68 and a beta of 1.61. The stock’s 50-day moving average is $47.73 and its 200-day moving average is $49.28. Customers Bancorp, Inc. has a one year low of $31.16 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI) last released 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. Equities analysts predict that Customers Bancorp, Inc. will post 6.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CUBI. Jefferies Financial Group cut their target price on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. DA Davidson raised their price objective on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a research note on Friday, August 9th. Keefe, Bruyette & Woods lowered their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Three research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Buying and Selling

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the purchase, the chief executive officer now owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.92% of the stock is currently owned by corporate insiders.

About Customers Bancorp

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.