Millennium Management LLC Raises Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Millennium Management LLC boosted its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 104.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 160,300 shares of the bank’s stock after buying an additional 81,755 shares during the period. Millennium Management LLC’s holdings in Customers Bancorp were worth $7,803,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Barclays PLC grew its holdings in shares of Customers Bancorp by 46.9% in the third quarter. Barclays PLC now owns 89,879 shares of the bank’s stock worth $4,175,000 after purchasing an additional 28,683 shares during the last quarter. SG Americas Securities LLC boosted its position in Customers Bancorp by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock valued at $272,000 after buying an additional 333 shares during the period. Exchange Traded Concepts LLC grew its holdings in Customers Bancorp by 5.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,085 shares of the bank’s stock worth $1,026,000 after acquiring an additional 1,108 shares during the last quarter. KBC Group NV grew its holdings in Customers Bancorp by 82.8% in the 4th 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. Finally, R Squared Ltd purchased a new position in shares of Customers Bancorp in the fourth quarter valued at about $42,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Trading Down 0.8%

CUBI opened at $50.75 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49. The stock has a market cap of $1.60 billion, a PE ratio of 9.99 and a beta of 1.51. The business has a 50 day moving average of $49.36 and a 200-day moving average of $51.59.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating the consensus estimate of $1.28 by $0.26. The business had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same quarter last year, the firm posted $1.68 earnings per share. Equities research analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of analyst reports. DA Davidson increased their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wall Street Zen cut Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Maxim Group lifted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their target price on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Finally, B. Riley raised their price target on Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Customers Bancorp currently has an average rating of “Hold” and a consensus price target of $64.00.

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.