Customers Bancorp, Inc. (NYSE:CUBI) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in Customers Bancorp, Inc. (NYSE:CUBI) by 5.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,164 shares of the bank’s stock after buying an additional 834 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Customers Bancorp were worth $728,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at about $48,000. Innealta Capital LLC purchased a new position in Customers Bancorp in the 2nd quarter valued at about $74,000. Ashton Thomas Private Wealth LLC purchased a new position in Customers Bancorp in the 2nd quarter valued at about $151,000. Capstone Investment Advisors LLC purchased a new position in Customers Bancorp in the 1st quarter valued at about $220,000. Finally, ProShare Advisors LLC lifted its holdings in Customers Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after purchasing an additional 398 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James reduced their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a report on Friday, August 9th. B. Riley increased their target price on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, DA Davidson increased their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Customers Bancorp Price Performance

Shares of CUBI opened at $48.24 on Tuesday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 6.74 and a beta of 1.61. Customers Bancorp, Inc. has a fifty-two week low of $31.16 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The business’s 50-day moving average is $47.88 and its 200-day moving average is $49.32.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. The business had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. Equities research analysts expect that Customers Bancorp, Inc. will post 6.11 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were bought 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 owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.92% of the stock is currently owned by corporate insiders.

About Customers Bancorp

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.