MetLife Investment Management LLC Sells 231 Shares of Customers Bancorp, Inc $CUBI

MetLife Investment Management LLC cut its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,792 shares of the bank’s stock after selling 231 shares during the period. MetLife Investment Management LLC’s holdings in Customers Bancorp were worth $893,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in Customers Bancorp by 34.3% in the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after purchasing an additional 902,406 shares in the last quarter. American Century Companies Inc. boosted its holdings in Customers Bancorp by 7.3% during the first quarter. American Century Companies Inc. now owns 830,023 shares of the bank’s stock valued at $41,667,000 after acquiring an additional 56,251 shares during the period. Nuveen LLC bought a new stake in Customers Bancorp during the first quarter valued at about $26,652,000. Northern Trust Corp boosted its holdings in Customers Bancorp by 19.1% during the fourth quarter. Northern Trust Corp now owns 381,684 shares of the bank’s stock valued at $18,580,000 after acquiring an additional 61,224 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Customers Bancorp by 11.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 317,584 shares of the bank’s stock valued at $16,127,000 after acquiring an additional 32,216 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Down 3.6%

NYSE CUBI opened at $67.45 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a 50-day simple moving average of $65.34 and a 200 day simple moving average of $55.77. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $72.51. The stock has a market cap of $2.13 billion, a PE ratio of 16.69 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business had revenue of $206.31 million during the quarter, compared to analysts’ expectations of $170.81 million. During the same quarter last year, the company earned $1.49 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Analysts Set New Price Targets

CUBI has been the subject of a number of recent analyst reports. B. Riley upped their price target on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 28th. DA Davidson upped their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 28th. Keefe, Bruyette & Woods upped their price target on shares of Customers Bancorp from $71.00 to $76.00 and gave the company a “market perform” rating in a report on Friday. Wall Street Zen upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Stephens upped their price target on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.88.

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.