21,000 Shares in Customers Bancorp, Inc $CUBI Acquired by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. acquired a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, HoldingsChannel reports. The fund acquired 21,000 shares of the bank’s stock, valued at approximately $1,234,000.

A number of other institutional investors also recently modified their holdings of CUBI. Russell Investments Group Ltd. lifted its stake in Customers Bancorp by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank’s stock valued at $4,049,000 after buying an additional 3,958 shares in the last quarter. Allianz Asset Management GmbH grew its position in Customers Bancorp by 34.9% in the first quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock valued at $427,000 after purchasing an additional 2,200 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Customers Bancorp in the 2nd quarter valued at about $418,000. Intech Investment Management LLC grew its stake in Customers Bancorp by 20.3% in the first quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock valued at $3,377,000 after purchasing an additional 11,346 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Customers Bancorp in the second quarter valued at $239,000. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $67.00 on Wednesday. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $72.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 13.59 and a beta of 1.64. The firm has a 50 day moving average of $66.95 and a 200-day moving average of $60.85.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CUBI shares. National Bankshares set a $89.00 price target on Customers Bancorp in a report on Wednesday, September 24th. TD Cowen upped their price objective on Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Stephens raised their price target on Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Hovde Group boosted their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.