Philadelphia Financial Management of San Francisco LLC Makes New $8.87 Billion Investment in Customers Bancorp, Inc $CUBI

Philadelphia Financial Management of San Francisco LLC acquired a new position in Customers Bancorp, Inc (NYSE:CUBI) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 112,143 shares of the bank’s stock, valued at approximately $8,870,511,000. Customers Bancorp accounts for approximately 1.8% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 17th largest holding. Philadelphia Financial Management of San Francisco LLC owned 0.33% of Customers Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Customers Bancorp by 11.5% in the 1st quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock worth $269,000 after buying an additional 553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Customers Bancorp by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock worth $885,000 after acquiring an additional 786 shares during the last quarter. Millennium Management LLC increased its stake in Customers Bancorp by 71.4% during the first quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after acquiring an additional 114,430 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Customers Bancorp during the first quarter valued at approximately $37,000. Finally, Creative Planning bought a new stake in shares of Customers Bancorp in the 2nd quarter valued at approximately $250,000. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Trading Up 0.4%

Shares of NYSE:CUBI opened at $78.59 on Thursday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 9.58 and a beta of 1.49. The business has a 50-day moving average price of $78.96 and a 200-day moving average price of $74.96. Customers Bancorp, Inc has a 52-week low of $59.34 and a 52-week high of $84.38. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. The firm had revenue of $227.28 million for the quarter, compared to the consensus estimate of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 earnings per share. Equities analysts predict that Customers Bancorp, Inc will post 8.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Fundamental Research set a $94.00 target price on Customers Bancorp in a report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Piper Sandler increased their target price 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. Morgan Stanley lifted their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.69.

Insiders Place Their Bets

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 68,821 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the transaction, the chairman directly owned 667,757 shares of the company’s stock, valued at $53,480,658.13. This trade represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 100,000 shares of company stock worth $7,981,084 in the last ninety days. Corporate insiders own 10.45% of the company’s stock.

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.