First Hawaiian Bank Acquires 1,071 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

First Hawaiian Bank grew its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,256 shares of the bank’s stock after buying an additional 1,071 shares during the period. First Hawaiian Bank’s holdings in Customers Bancorp were worth $691,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the business. Maryland State Retirement & Pension System boosted its holdings in shares of Customers Bancorp by 1.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank’s stock worth $777,000 after buying an additional 161 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Customers Bancorp by 9.0% in the 3rd quarter. Captrust Financial Advisors now owns 2,801 shares of the bank’s stock worth $120,000 after purchasing an additional 231 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Customers Bancorp by 70.5% in the 4th quarter. Lazard Asset Management LLC now owns 687 shares of the bank’s stock worth $44,000 after purchasing an additional 284 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Customers Bancorp by 1.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank’s stock worth $1,185,000 after purchasing an additional 292 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Customers Bancorp by 3.7% in the 3rd quarter. Two Sigma Advisers LP now owns 8,400 shares of the bank’s stock worth $361,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 83.48% of the company’s stock.

In related news, Director Lyle Cunningham sold 1,000 shares of Customers Bancorp stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $43.06, for a total value of $43,060.00. Following the completion of the sale, the director now owns 11,051 shares of the company’s stock, valued at approximately $475,856.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Samvir S. Sidhu acquired 2,965 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average cost of $42.10 per share, with a total value of $124,826.50. Following the acquisition, the chief executive officer now owns 80,637 shares in the company, valued at approximately $3,394,817.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,465 shares of company stock valued at $186,912. Insiders own 6.75% of the company’s stock.

A number of equities analysts recently issued reports on the company. B. Riley cut their target price on Customers Bancorp from $100.00 to $90.00 in a report on Tuesday, April 12th. Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $72.00 to $80.00 in a report on Monday, March 28th. StockNews.com started coverage on Customers Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Stephens started coverage on Customers Bancorp in a research report on Monday, March 28th. They issued an “equal weight” rating and a $62.50 price target for the company. Finally, Maxim Group reissued a “buy” rating and issued a $85.00 price target on shares of Customers Bancorp in a research report on Friday, April 29th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Shares of Customers Bancorp stock opened at $34.35 on Thursday. Customers Bancorp, Inc. has a 1 year low of $32.19 and a 1 year high of $76.13. The firm has a market cap of $1.13 billion, a PE ratio of 3.43 and a beta of 1.58. The stock has a fifty day moving average price of $40.16 and a 200-day moving average price of $52.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81.

Customers Bancorp (NYSE:CUBI – Get Rating) last announced its earnings results on Wednesday, April 27th. The bank reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.53. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. The firm had revenue of $185.90 million during the quarter, compared to analyst estimates of $170.48 million. As a group, equities analysts anticipate that Customers Bancorp, Inc. will post 7.82 EPS for the current fiscal year.

Customers Bancorp Profile (Get Rating)

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 offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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