De Lisle Partners LLP raised its holdings in Customers Bancorp, Inc (NYSE:CUBI – Free Report) by 22.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,658 shares of the bank’s stock after purchasing an additional 11,638 shares during the quarter. De Lisle Partners LLP owned 0.19% of Customers Bancorp worth $4,656,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Customers Bancorp in the third quarter valued at $29,000. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp in the first quarter worth about $37,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Customers Bancorp by 451.2% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after acquiring an additional 767 shares in the last quarter. KBC Group NV boosted its stake in shares of Customers Bancorp by 59.7% during the 4th quarter. KBC Group NV now owns 1,595 shares of the bank’s stock worth $117,000 after acquiring an additional 596 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Customers Bancorp by 17.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after acquiring an additional 256 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $86.00 target price (up from $82.00) on shares of Customers Bancorp in a research note on Monday, April 27th. Zacks Research lowered shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. DA Davidson increased their target price on shares of Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.
Customers Bancorp Stock Up 1.3%
CUBI opened at $78.19 on Friday. The company has a market cap of $2.65 billion, a PE ratio of 9.92 and a beta of 1.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. Customers Bancorp, Inc has a twelve month low of $50.06 and a twelve month high of $82.56. The company has a 50-day moving average price of $75.12 and a 200 day moving average price of $73.54.
Customers Bancorp (NYSE:CUBI – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. Customers Bancorp’s quarterly revenue was up 57.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. Sell-side analysts expect that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.
Insider Buying and Selling at Customers Bancorp
In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the acquisition, the chief executive officer owned 521,714 shares in the company, valued at approximately $37,866,002.12. The trade was a 0.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the completion of the sale, the chairman owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. The trade was a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.45% of the stock is owned by insiders.
Customers Bancorp Company Profile
Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.
Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.
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