Corton Capital Inc. Takes $207,000 Position in Customers Bancorp, Inc $CUBI

Corton Capital Inc. bought a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,521 shares of the bank’s stock, valued at approximately $207,000.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in Customers Bancorp in the first quarter worth about $37,000. GAMMA Investing LLC raised its stake in Customers Bancorp by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock worth $95,000 after buying an additional 403 shares in the last quarter. Ground Swell Capital LLC bought a new position in Customers Bancorp in the first quarter worth about $208,000. Teacher Retirement System of Texas bought a new position in Customers Bancorp in the first quarter worth about $219,000. Finally, EP Wealth Advisors LLC grew its stake in Customers Bancorp by 5.3% in the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank’s stock worth $222,000 after purchasing an additional 223 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Trading Down 1.5%

Customers Bancorp stock opened at $67.00 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $66.95 and its two-hundred day simple moving average is $60.85. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $72.51. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 13.59 and a beta of 1.64.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Monday, September 8th. The bank reported $1.80 EPS for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The business had revenue of $206.82 million for the quarter. As a group, equities analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. DA Davidson upped their price target on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Hovde Group upped their price target on Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Finally, Wall Street Zen raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

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.