Customers Bancorp, Inc. (NYSE:CUBI) Position Trimmed by Driehaus Capital Management LLC

Driehaus Capital Management LLC lessened its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,456 shares of the bank’s stock after selling 133,898 shares during the quarter. Driehaus Capital Management LLC owned approximately 1.49% of Customers Bancorp worth $22,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $48,000. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $74,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $151,000. Capstone Investment Advisors LLC acquired a new stake in shares of Customers Bancorp during the 1st quarter valued at about $220,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Customers Bancorp by 10.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after buying an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Up 1.3 %

CUBI opened at $45.38 on Friday. The business has a 50 day moving average price of $51.46 and a 200 day moving average price of $49.80. Customers Bancorp, Inc. has a twelve month low of $31.16 and a twelve month high of $68.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a market cap of $1.43 billion, a P/E ratio of 6.34 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $198.69 million for 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 company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 EPS. Research analysts forecast that Customers Bancorp, Inc. will post 6.34 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. DA Davidson lifted their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a report on Friday, August 9th. B. Riley lifted their price target on Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group reduced their target price on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Four equities 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.25.

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 on Tuesday, August 13th. The shares were bought at an average cost of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.92% of the company’s stock.

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.