Hood River Capital Management LLC Has $26.34 Million Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Hood River Capital Management LLC increased its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 94.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 549,063 shares of the bank’s stock after buying an additional 266,462 shares during the period. Hood River Capital Management LLC owned 1.74% of Customers Bancorp worth $26,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Customers Bancorp by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock valued at $107,575,000 after acquiring an additional 21,302 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after buying an additional 111,654 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after buying an additional 87,557 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Customers Bancorp by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 261,907 shares of the bank’s stock valued at $12,566,000 after buying an additional 829 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Customers Bancorp by 2.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 261,847 shares of the bank’s stock valued at $13,894,000 after acquiring an additional 7,047 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CUBI shares. Keefe, Bruyette & Woods dropped their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Friday, August 9th. Wedbush upped their price target on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. B. Riley raised their price objective on Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, DA Davidson upped their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.50.

Insider Transactions at Customers Bancorp

In other news, CEO Samvir S. Sidhu bought 2,500 shares of the company’s stock in a transaction that occurred 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 acquisition, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.92% of the stock is currently owned by corporate insiders.

Customers Bancorp Trading Down 3.7 %

NYSE CUBI opened at $47.70 on Monday. Customers Bancorp, Inc. has a 12 month low of $31.16 and a 12 month high of $68.49. 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 firm has a market capitalization of $1.50 billion, a PE ratio of 6.66 and a beta of 1.62. The business’s 50-day moving average price is $53.07 and its two-hundred day moving average price is $50.07.

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

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.