Hillsdale Investment Management Inc. Acquires New Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Hillsdale Investment Management Inc. acquired a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,400 shares of the bank’s stock, valued at approximately $4,266,000. Hillsdale Investment Management Inc. owned about 0.26% of Customers Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CUBI. SummerHaven Investment Management LLC increased its position in Customers Bancorp by 1.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 20,202 shares of the bank’s stock worth $1,164,000 after buying an additional 205 shares in the last quarter. Texas Permanent School Fund Corp increased its position in Customers Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock worth $1,314,000 after buying an additional 353 shares in the last quarter. ProShare Advisors LLC increased its position in Customers Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock worth $306,000 after buying an additional 398 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in Customers Bancorp by 4.8% in the first quarter. Illinois Municipal Retirement Fund now owns 16,066 shares of the bank’s stock worth $852,000 after buying an additional 738 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in Customers Bancorp by 7.5% in the first quarter. Quantbot Technologies LP now owns 17,401 shares of the bank’s stock worth $923,000 after buying an additional 1,217 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CUBI. Hovde Group cut their target price on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Jefferies Financial Group cut their target price on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Wedbush cut their target price on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.63.

Customers Bancorp Trading Up 0.3 %

Shares of NYSE CUBI traded up $0.18 during midday trading on Monday, hitting $62.06. The company’s stock had a trading volume of 359,210 shares, compared to its average volume of 329,797. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $48.49 and its two-hundred day moving average is $50.33. Customers Bancorp, Inc. has a 12-month low of $31.16 and a 12-month high of $64.98. The firm has a market cap of $1.95 billion, a P/E ratio of 8.67 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping the consensus estimate of $1.63 by $0.05. The company had revenue of $181.62 million for the quarter, compared to the consensus estimate of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. Customers Bancorp’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $1.58 EPS. As a group, equities research analysts expect that Customers Bancorp, Inc. will post 6.41 EPS for the current year.

Customers Bancorp Company Profile

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.