Federated Hermes Inc. Has $6.75 Million Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Federated Hermes Inc. grew its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,698 shares of the bank’s stock after purchasing an additional 656 shares during the quarter. Federated Hermes Inc. owned approximately 0.45% of Customers Bancorp worth $6,751,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp in the second quarter worth approximately $48,000. Innealta Capital LLC acquired a new position in shares of Customers Bancorp in the second quarter worth approximately $74,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Customers Bancorp in the second quarter worth approximately $151,000. Aigen Investment Management LP acquired a new position in Customers Bancorp in the fourth quarter valued at approximately $209,000. Finally, Coldstream Capital Management Inc. acquired a new position in Customers Bancorp in the fourth quarter valued at approximately $218,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the transaction, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.92% of the company’s stock.

Customers Bancorp Trading Up 0.1 %

Shares of Customers Bancorp stock opened at $48.49 on Wednesday. The stock has a fifty day simple moving average of $53.46 and a 200 day simple moving average of $50.23. Customers Bancorp, Inc. has a 12-month low of $31.16 and a 12-month high of $68.49. The company has a market capitalization of $1.53 billion, a P/E ratio of 6.77 and a beta of 1.62. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business had revenue of $198.69 million during the quarter, compared to the consensus estimate of $184.40 million. During the same quarter in the prior year, the company posted $1.65 earnings per share. Customers Bancorp’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Customers Bancorp, Inc. will post 6.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CUBI shares. Keefe, Bruyette & Woods dropped their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group dropped their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. B. Riley boosted their price target on Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, July 29th. DA Davidson boosted their price objective on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.50.

Customers Bancorp Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.