Customers Bancorp, Inc $CUBI Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 237,547 shares of the bank’s stock after selling 30,283 shares during the period. Royce & Associates LP’s holdings in Customers Bancorp were worth $17,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Access Investment Management LLC increased its position in shares of Customers Bancorp by 15.7% during the third quarter. Access Investment Management LLC now owns 132,415 shares of the bank’s stock worth $8,656,000 after purchasing an additional 18,000 shares in the last quarter. EJF Capital LLC acquired a new position in Customers Bancorp in the 3rd quarter valued at about $1,711,000. Principal Financial Group Inc. increased its position in Customers Bancorp by 23.4% in the 3rd quarter. Principal Financial Group Inc. now owns 179,762 shares of the bank’s stock valued at $11,751,000 after acquiring an additional 34,081 shares during the period. Fortress Investment Group LLC acquired a new position in Customers Bancorp in the 3rd quarter valued at about $2,860,000. Finally, Allspring Global Investments Holdings LLC increased its position in Customers Bancorp by 5.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 421,852 shares of the bank’s stock valued at $31,428,000 after acquiring an additional 23,129 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CUBI shares. Morgan Stanley dropped their price target on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. JPMorgan Chase & Co. dropped their price target on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Stephens upgraded Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target on the stock in a research report on Monday, March 16th. DA Davidson boosted their price target on Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Hovde Group boosted their price target on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

Customers Bancorp Stock Performance

NYSE CUBI opened at $77.00 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $73.18 and its two-hundred day moving average is $72.78. Customers Bancorp, Inc has a 12-month low of $49.54 and a 12-month high of $82.56. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 9.77 and a beta of 1.52.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.09. The company had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The firm’s quarterly revenue was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. Research analysts expect that Customers Bancorp, Inc will post 8.52 EPS for the current year.

Customers Bancorp announced that its Board of Directors has approved a stock buyback program on Wednesday, February 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Customers Bancorp

In other news, EVP Philip Watkins sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $75.67, for a total transaction of $227,010.00. Following the sale, the executive vice president owned 43,993 shares of the company’s stock, valued at $3,328,950.31. The trade was a 6.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samvir S. Sidhu purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the purchase, the chief executive officer directly owned 521,714 shares in the company, valued at approximately $37,866,002.12. This represents a 0.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 10.45% of the stock is owned by insiders.

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.