Texas Permanent School Fund Corp Buys 10,966 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Texas Permanent School Fund Corp boosted its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 44.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,731 shares of the bank’s stock after purchasing an additional 10,966 shares during the period. Texas Permanent School Fund Corp owned about 0.11% of Customers Bancorp worth $1,714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CUBI. Ridgewood Investments LLC purchased a new stake in Customers Bancorp in the second quarter worth about $48,000. Innealta Capital LLC purchased a new position in Customers Bancorp during the second quarter valued at $74,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Customers Bancorp in the 2nd quarter worth about $151,000. Aigen Investment Management LP purchased a new stake in Customers Bancorp during the 4th quarter valued at about $209,000. Finally, Coldstream Capital Management Inc. bought a new stake in Customers Bancorp during the 4th quarter valued at about $218,000. Institutional investors own 89.29% of the company’s stock.

Insider Activity

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

Customers Bancorp Price Performance

NYSE:CUBI opened at $48.45 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.53 billion, a P/E ratio of 6.77 and a beta of 1.62. Customers Bancorp, Inc. has a 12 month low of $31.16 and a 12 month high of $68.49. The business’s 50-day moving average is $53.44 and its 200 day moving average is $50.18.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating 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 company had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. During the same quarter in the prior year, the firm posted $1.65 EPS. Customers Bancorp’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Customers Bancorp, Inc. will post 6.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Customers Bancorp Company 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.