Customers Bancorp, Inc (NYSE:CUBI) Holdings Raised by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Customers Bancorp, Inc (NYSE:CUBI) by 2.7% in the first quarter, Holdings Channel reports. The institutional investor owned 145,201 shares of the bank’s stock after acquiring an additional 3,802 shares during the quarter. Principal Financial Group Inc.’s holdings in Customers Bancorp were worth $7,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC increased its stake in shares of Customers Bancorp by 40.1% during the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock worth $71,606,000 after purchasing an additional 421,335 shares during the last quarter. Heartland Advisors Inc. acquired a new position in shares of Customers Bancorp during the 4th quarter worth $7,672,000. Shellback Capital LP acquired a new position in shares of Customers Bancorp during the 4th quarter worth $5,257,000. JPMorgan Chase & Co. grew its stake in Customers Bancorp by 33.1% in the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock valued at $20,912,000 after buying an additional 106,895 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Customers Bancorp by 1,866.5% in the 1st quarter. SG Americas Securities LLC now owns 109,713 shares of the bank’s stock valued at $5,508,000 after buying an additional 104,134 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

NYSE CUBI opened at $62.31 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 15.69 and a beta of 1.55. The company’s fifty day moving average is $55.29 and its two-hundred day moving average is $52.31. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.26. The company had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. During the same period last year, the business posted $1.68 EPS. Equities research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CUBI. B. Riley raised their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Wall Street Zen lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.33.

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.