Emerald Advisers LLC Purchases 12,899 Shares of Customers Bancorp, Inc $CUBI

Emerald Advisers LLC increased its position in Customers Bancorp, Inc (NYSE:CUBI) by 3.9% in the 1st quarter, HoldingsChannel reports. The fund owned 343,209 shares of the bank’s stock after purchasing an additional 12,899 shares during the period. Emerald Advisers LLC’s holdings in Customers Bancorp were worth $23,822,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in Customers Bancorp by 2,688.7% during the first quarter. Fifth Third Bancorp now owns 16,035 shares of the bank’s stock valued at $1,113,000 after purchasing an additional 15,460 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Customers Bancorp in the first quarter worth about $519,000. Y Intercept Hong Kong Ltd increased its stake in shares of Customers Bancorp by 62.6% in the first quarter. Y Intercept Hong Kong Ltd now owns 10,156 shares of the bank’s stock worth $705,000 after purchasing an additional 3,910 shares in the last quarter. Inspire Investing LLC raised its position in shares of Customers Bancorp by 16.2% in the first quarter. Inspire Investing LLC now owns 7,440 shares of the bank’s stock valued at $516,000 after purchasing an additional 1,036 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of Customers Bancorp by 13.6% in the first quarter. Pictet Asset Management Holding SA now owns 5,604 shares of the bank’s stock valued at $389,000 after purchasing an additional 672 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 60,315 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total value of $4,597,812.45. Following the completion of the transaction, the chairman directly owned 767,557 shares of the company’s stock, valued at $58,510,870.11. This trade represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Samvir S. Sidhu purchased 1,000 shares of Customers Bancorp stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $72.58 per share, with a total value of $72,580.00. Following the completion of the transaction, 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. The SEC filing for this purchase provides additional information. Corporate insiders own 10.45% of the company’s stock.

Customers Bancorp Trading Down 0.7%

Shares of Customers Bancorp stock opened at $76.11 on Tuesday. Customers Bancorp, Inc has a 12-month low of $59.34 and a 12-month high of $82.56. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 9.66 and a beta of 1.48. 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 company’s 50-day moving average price is $76.07 and its 200-day moving average price is $74.37.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. Customers Bancorp’s revenue was up 57.9% compared to the same quarter last year. During the same period last year, the business earned $1.54 earnings per share. On average, equities analysts expect that Customers Bancorp, Inc will post 8.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CUBI. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Piper Sandler lifted their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Fundamental Research set a $94.00 target price on shares of Customers Bancorp in a report on Wednesday, July 1st. Morgan Stanley increased their target price on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, DA Davidson increased their target price on Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.62.

Customers Bancorp 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.