Schonfeld Strategic Advisors LLC Takes $443,000 Position in Customers Bancorp, Inc. (NYSE:CUBI)

Schonfeld Strategic Advisors LLC purchased a new stake in Customers Bancorp, Inc. (NYSE:CUBI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,100 shares of the bank’s stock, valued at approximately $443,000.

Several other large investors have also modified their holdings of the business. Picton Mahoney Asset Management boosted its position in Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock worth $28,000 after acquiring an additional 189 shares during the last quarter. R Squared Ltd acquired a new stake in Customers Bancorp during the fourth quarter worth approximately $42,000. KBC Group NV boosted its position in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after acquiring an additional 677 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Customers Bancorp by 323.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after acquiring an additional 1,255 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock valued at $151,000 after purchasing an additional 254 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Maxim Group lifted their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Stephens reiterated an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Finally, DA Davidson lifted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.80.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $51.82 on Monday. The company’s fifty day simple moving average is $48.70 and its 200-day simple moving average is $51.19. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.63 billion, a PE ratio of 10.20 and a beta of 1.51.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The business had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. During the same quarter last year, the firm posted $1.68 EPS. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

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.