Texas Permanent School Fund Has $743,000 Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Texas Permanent School Fund grew its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBIGet Rating) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 21,931 shares of the bank’s stock after acquiring an additional 464 shares during the period. Texas Permanent School Fund’s holdings in Customers Bancorp were worth $743,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CUBI. Meeder Asset Management Inc. bought a new position in shares of Customers Bancorp during the first quarter valued at about $39,000. KBC Group NV bought a new stake in Customers Bancorp in the second quarter worth about $89,000. Steward Partners Investment Advisory LLC bought a new stake in Customers Bancorp in the first quarter worth about $141,000. Captrust Financial Advisors raised its position in Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank’s stock worth $196,000 after acquiring an additional 1,054 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in Customers Bancorp by 7.1% in the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank’s stock worth $228,000 after acquiring an additional 290 shares during the period. 86.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Hovde Group lowered their price objective on shares of Customers Bancorp to $44.00 in a research report on Tuesday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Customers Bancorp in a research report on Wednesday, September 28th. StockNews.com assumed coverage on shares of Customers Bancorp in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Stephens lowered their price target on shares of Customers Bancorp from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 2nd. Finally, DA Davidson raised shares of Customers Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $42.00 to $44.00 in a research report on Friday, October 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.38.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $32.18 on Monday. The company has a 50 day moving average of $32.16 and a 200 day moving average of $35.37. The stock has a market cap of $1.05 billion, a P/E ratio of 3.75 and a beta of 1.62. Customers Bancorp, Inc. has a 12 month low of $29.21 and a 12 month high of $76.13. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55.

Customers Bancorp (NYSE:CUBIGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The bank reported $2.48 EPS for the quarter, beating the consensus estimate of $2.23 by $0.25. The company had revenue of $150.02 million during the quarter, compared to analysts’ expectations of $176.53 million. Customers Bancorp had a net margin of 34.42% and a return on equity of 26.39%. As a group, sell-side analysts forecast that Customers Bancorp, Inc. will post 7.76 EPS for the current fiscal year.

Customers Bancorp Profile

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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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Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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