Sippican Capital Advisors Increases Position in Customers Bancorp, Inc (NYSE:CUBI)

by · The Cerbat Gem

Sippican Capital Advisors raised its position in shares of Customers Bancorp, Inc (NYSE:CUBI – Free Report) by 8.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 38,824 shares of the bank’s stock after buying an additional 3,055 shares during the period. Customers Bancorp makes up about 1.5% of Sippican Capital Advisors’ portfolio, making the stock its 21st biggest holding. Sippican Capital Advisors’ holdings in Customers Bancorp were worth $1,949,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hood River Capital Management LLC increased its stake in shares of Customers Bancorp by 40.1% during the fourth quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock worth $71,606,000 after buying an additional 421,335 shares during the period. American Century Companies Inc. grew its holdings in shares of Customers Bancorp by 5.9% during the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock worth $37,667,000 after purchasing an additional 42,965 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Customers Bancorp by 33.1% during the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock worth $20,912,000 after purchasing an additional 106,895 shares in the last quarter. Northern Trust Corp increased its position in shares of Customers Bancorp by 19.1% during the fourth quarter. Northern Trust Corp now owns 381,684 shares of the bank’s stock worth $18,580,000 after purchasing an additional 61,224 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Customers Bancorp by 11.3% in 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 owned by institutional investors and hedge funds.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $62.02 on Wednesday. The stock has a 50 day simple moving average of $52.46 and a 200-day simple moving average of $51.25. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 15.62 and a beta of 1.55. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.76. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI – Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping the consensus estimate of $1.28 by $0.26. The company had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. During the same period in the previous year, the firm earned $1.68 EPS. On average, equities analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CUBI. B. Riley lifted their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a report on Friday, May 16th. Keefe, Bruyette & Woods dropped their price objective on shares of 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, Wall Street Zen downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.00.

Check Out Our Latest Analysis on CUBI

Customers Bancorp Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CUBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Customers Bancorp, Inc (NYSE:CUBI – Free Report).