EJF Capital LLC Invests $1.71 Million in Customers Bancorp, Inc $CUBI

EJF Capital LLC bought a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 26,178 shares of the bank’s stock, valued at approximately $1,711,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of Customers Bancorp by 11.5% in the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after acquiring an additional 553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Customers Bancorp by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock valued at $885,000 after purchasing an additional 786 shares during the last quarter. Millennium Management LLC boosted its holdings in Customers Bancorp by 71.4% in the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock valued at $13,791,000 after purchasing an additional 114,430 shares during the period. Jones Financial Companies Lllp acquired a new stake in Customers Bancorp in the 1st quarter worth $37,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Customers Bancorp by 17.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 22,328 shares of the bank’s stock worth $1,312,000 after purchasing an additional 3,253 shares during the period. 89.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 128,185 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the transaction, the chief executive officer owned 790,031 shares in the company, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.69% of the stock is currently owned by corporate insiders.

Customers Bancorp Stock Down 6.6%

Customers Bancorp stock opened at $67.24 on Friday. The company has a 50 day moving average of $75.52 and a 200-day moving average of $70.51. The stock has a market capitalization of $2.30 billion, a PE ratio of 10.84 and a beta of 1.65. 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, Inc has a twelve month low of $40.75 and a twelve month high of $82.56.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $236.90 million for 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 quarter in the previous year, the firm posted $1.36 earnings per share. On average, equities research analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp announced that its board has authorized a share repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CUBI shares. Morgan Stanley started coverage on Customers Bancorp in a research report on Monday, December 8th. They set an “equal weight” rating and a $90.00 target price on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 target price on shares of Customers Bancorp in a research report on Tuesday, January 6th. Wall Street Zen downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Stephens lowered shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 target price on the stock. in a report on Friday, February 6th. Finally, B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $87.80.

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.