Customers Bancorp, Inc $CUBI Shares Acquired by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 509.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,114 shares of the bank’s stock after purchasing an additional 8,454 shares during the quarter. Royal Bank of Canada’s holdings in Customers Bancorp were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CUBI. Lido Advisors LLC lifted its holdings in Customers Bancorp by 3.0% in the fourth quarter. Lido Advisors LLC now owns 6,135 shares of the bank’s stock worth $412,000 after acquiring an additional 178 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Customers Bancorp by 0.5% in the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock valued at $2,226,000 after acquiring an additional 182 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Customers Bancorp by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank’s stock valued at $1,289,000 after purchasing an additional 230 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after purchasing an additional 232 shares during the last quarter. Finally, Arax Advisory Partners raised its position in shares of Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after purchasing an additional 243 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insiders Place Their Bets

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 68,821 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the completion of the transaction, the chairman owned 667,757 shares in the company, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 160,315 shares of company stock worth $12,578,896. 10.45% of the stock is owned by insiders.

Customers Bancorp Stock Performance

CUBI opened at $79.84 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $78.79 and its 200-day moving average is $74.93. The stock has a market cap of $2.70 billion, a PE ratio of 9.74 and a beta of 1.49. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $84.38.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The business had revenue of $227.28 million during the quarter, compared to analyst estimates of $229.24 million. During the same period in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Hovde Group raised their price target on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Fundamental Research set a $94.00 price objective on Customers Bancorp in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Keefe, Bruyette & Woods raised their target price on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, Piper Sandler boosted their price target on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.69.

Customers Bancorp Company Profile

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.