43,756 Shares in Customers Bancorp, Inc $CUBI Acquired by Fortress Investment Group LLC

Fortress Investment Group LLC acquired a new stake in Customers Bancorp, Inc (NYSE:CUBI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 43,756 shares of the bank’s stock, valued at approximately $2,860,000. Fortress Investment Group LLC owned about 0.13% of Customers Bancorp at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Customers Bancorp by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock valued at $140,892,000 after acquiring an additional 81,200 shares during the period. Hood River Capital Management LLC grew its position in Customers Bancorp by 1.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock worth $89,462,000 after purchasing an additional 23,416 shares during the last quarter. American Century Companies Inc. grew its position in Customers Bancorp by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after purchasing an additional 69,200 shares during the last quarter. Geode Capital Management LLC increased its stake in Customers Bancorp by 0.4% in the second quarter. Geode Capital Management LLC now owns 695,204 shares of the bank’s stock valued at $40,841,000 after purchasing an additional 2,494 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Customers Bancorp by 9.4% in the second quarter. JPMorgan Chase & Co. now owns 435,637 shares of the bank’s stock valued at $25,589,000 after purchasing an additional 37,309 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $64.68 on Monday. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $82.56. The company has a 50-day moving average price of $74.03 and a 200 day moving average price of $70.56. The company has a market cap of $2.21 billion, a P/E ratio of 10.43 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 earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.02. The company had revenue of $236.90 million for the quarter, compared to analysts’ expectations of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same quarter in the previous year, the firm posted $1.36 EPS. Research analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Customers Bancorp announced that its board has approved a share repurchase plan on Wednesday, February 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to buy up to 4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. DA Davidson raised their price target on Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. B. Riley Financial reaffirmed a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Maxim Group set a $100.00 target price on Customers Bancorp in a research note on Monday, January 26th. TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Finally, Morgan Stanley increased their price target on Customers Bancorp from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.67.

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.