First Eagle Investment Management LLC increased its position in Customers Bancorp, Inc (NYSE:CUBI – Free Report) by 37.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 139,293 shares of the bank’s stock after acquiring an additional 38,076 shares during the quarter. First Eagle Investment Management LLC’s holdings in Customers Bancorp were worth $10,185,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of CUBI. Caitong International Asset Management Co. Ltd bought a new position in Customers Bancorp during the 3rd quarter valued at about $29,000. Jones Financial Companies Lllp bought a new position in Customers Bancorp during the 1st quarter valued at about $37,000. Aster Capital Management DIFC Ltd lifted its stake in Customers Bancorp by 451.2% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after acquiring an additional 767 shares during the period. CX Institutional bought a new position in Customers Bancorp during the 3rd quarter valued at about $67,000. Finally, Smartleaf Asset Management LLC lifted its stake in Customers Bancorp by 17.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock valued at $115,000 after acquiring an additional 256 shares during the period. Institutional investors own 89.29% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on CUBI shares. B. Riley Financial restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Morgan Stanley lowered their target price on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a research note on Monday, January 26th. Finally, Wall Street Zen cut shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.50.
Insider Activity
In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 1,000 shares of Customers Bancorp stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $72.58 per share, with a total value of $72,580.00. Following the transaction, the chief executive officer directly owned 521,714 shares of the company’s stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the sale, the executive vice president directly owned 43,993 shares of the company’s stock, valued at $3,328,950.31. The trade was a 6.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.45% of the stock is owned by corporate insiders.
Customers Bancorp Price Performance
NYSE CUBI opened at $73.99 on Wednesday. Customers Bancorp, Inc has a 52 week low of $49.54 and a 52 week high of $82.56. The firm has a market capitalization of $2.50 billion, a P/E ratio of 9.39 and a beta of 1.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $71.86 and a 200-day moving average price of $72.31.
Customers Bancorp (NYSE:CUBI – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. During the same quarter in the prior year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. Equities research analysts anticipate that Customers Bancorp, Inc will post 8.52 earnings per share for the current year.
Customers Bancorp announced that its board has initiated a stock buyback program on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
About Customers Bancorp
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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