Algert Global LLC Boosts Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Algert Global LLC raised its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,312 shares of the bank’s stock after purchasing an additional 2,335 shares during the quarter. Algert Global LLC owned 0.26% of Customers Bancorp worth $3,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CUBI. US Bancorp DE lifted its position in Customers Bancorp by 1,063.7% during the fourth quarter. US Bancorp DE now owns 11,230 shares of the bank’s stock valued at $647,000 after purchasing an additional 10,265 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Customers Bancorp during the fourth quarter valued at $3,680,000. Quantedge Capital Pte Ltd lifted its holdings in shares of Customers Bancorp by 40.9% in the 4th quarter. Quantedge Capital Pte Ltd now owns 89,200 shares of the bank’s stock worth $5,140,000 after acquiring an additional 25,900 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Customers Bancorp by 51.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,000 shares of the bank’s stock worth $4,091,000 after acquiring an additional 24,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Customers Bancorp by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 261,847 shares of the bank’s stock worth $13,894,000 after acquiring an additional 7,047 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. DA Davidson raised their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 29th. B. Riley raised their target price on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Friday, August 9th. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods decreased their price objective 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. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.25.

Customers Bancorp Trading Up 2.4 %

Shares of Customers Bancorp stock opened at $46.45 on Tuesday. 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, Inc. has a 12-month low of $31.16 and a 12-month high of $68.49. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 6.49 and a beta of 1.62. The firm’s 50 day simple moving average is $51.15 and its two-hundred day simple moving average is $49.77.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The business 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 business posted $1.65 EPS. Customers Bancorp’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that Customers Bancorp, Inc. will post 6.34 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $45.53 per share, with a total value of $113,825.00. Following the acquisition, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.92% of the stock is currently owned by company insiders.

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.