Royce & Associates LP Sells 17,129 Shares of Customers Bancorp, Inc $CUBI

Royce & Associates LP cut its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,830 shares of the bank’s stock after selling 17,129 shares during the quarter. Royce & Associates LP owned approximately 0.78% of Customers Bancorp worth $17,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in Customers Bancorp by 63.1% during the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after buying an additional 260 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp during the 1st quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd increased its stake in shares of Customers Bancorp by 451.2% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after purchasing an additional 767 shares during the last quarter. CX Institutional purchased a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $67,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after purchasing an additional 256 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on CUBI shares. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Stephens downgraded Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a research note on Friday, February 6th. DA Davidson boosted their price objective on Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Morgan Stanley upped their price objective on shares of Customers Bancorp from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Customers Bancorp in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Customers Bancorp Trading Up 2.4%

Shares of CUBI opened at $69.07 on Tuesday. The business’s 50-day moving average price is $75.36 and its 200-day moving average price is $70.56. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $82.56. The stock has a market cap of $2.36 billion, a PE ratio of 11.14 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $236.90 million during the quarter, compared to analyst estimates of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period last year, the business earned $1.36 earnings per share. On average, equities analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp declared that its board has approved a stock buyback program on Wednesday, February 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the bank to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 128,185 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares in the company, valued at $54,851,852.33. The trade was a 13.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.92% of the stock is owned by company insiders.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid?market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset?based lending and treasury management services.