Tieton Capital Management Lowers stake in Customers Bancorp Inc (CUBI)

Customers Bancorp Inc (CUBI) : Tieton Capital Management reduced its stake in Customers Bancorp Inc by 9.69% during the most recent quarter end. The investment management company now holds a total of 224,927 shares of Customers Bancorp Inc which is valued at $5.9 Million after selling 24,145 shares in Customers Bancorp Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.Customers Bancorp Inc makes up approximately 6.00% of Tieton Capital Management’s portfolio.

Other Hedge Funds, Including , Diam Ltd. reduced its stake in CUBI by selling 5,600 shares or 13.69% in the most recent quarter. The Hedge Fund company now holds 35,300 shares of CUBI which is valued at $872,263. Customers Bancorp Inc makes up approx 0.01% of Diam Ltd.’s portfolio.Opus Capital Group reduced its stake in CUBI by selling 366 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 182,279 shares of CUBI which is valued at $4.5 Million. Customers Bancorp Inc makes up approx 1.00% of Opus Capital Group’s portfolio.

Customers Bancorp Inc closed down -0.32 points or -1.22% at $25.97 with 5,28,448 shares getting traded on Monday. Post opening the session at $26.12, the shares hit an intraday low of $25.65 and an intraday high of $26.19 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Customers Bancorp Inc reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.55. The company had revenue of $57.60 million for the quarter, compared to analysts expectations of $56.06 million. The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Customers Bancorp Inc. (Customers Bancorp) is a bank holding company engaged in banking activities through its wholly owned subsidiary Customers Bank (the Bank). Customers Bancorp provides financial products and services to small businesses not-for-profits and consumers. Customers Bancorp serves residences and businesses in Southeastern Pennsylvania Rye New York Hamilton New Jersey Boston Massachusetts and Providence among others. It offers a range of traditional loan and deposit banking products and financial services. The Bank offers a range of lending products including small business loans mortgage warehouse loans multi-family and commercial real estate loans residential mortgage loans and other consumer loans. The Bank also offers traditional depository products including commercial and consumer checking accounts non-interest-bearing demand accounts money market deposit accounts savings accounts and time deposit accounts and cash management services.

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