HighTower Advisors LLC acquired a new position in shares of Customers Bancorp, Inc (NYSE:CUBI – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 20,985 shares of the bank’s stock, valued at approximately $1,534,000. HighTower Advisors LLC owned 0.06% of Customers Bancorp at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Customers Bancorp in the 3rd quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp in the 1st quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after buying an additional 767 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock valued at $115,000 after buying an additional 256 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Customers Bancorp by 59.7% in the 4th quarter. KBC Group NV now owns 1,595 shares of the bank’s stock valued at $117,000 after buying an additional 596 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Customers Bancorp
In related news, Chairman Jay S. Sidhu sold 60,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total value of $4,597,812.45. Following the completion of the transaction, the chairman directly owned 767,557 shares of the company’s stock, valued at $58,510,870.11. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Samvir S. Sidhu acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the purchase, the chief executive officer directly owned 521,714 shares in the company, valued at $37,866,002.12. This represents a 0.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 10.45% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Customers Bancorp
Customers Bancorp Stock Performance
NYSE CUBI opened at $74.34 on Wednesday. Customers Bancorp, Inc has a 1-year low of $50.06 and a 1-year high of $82.56. The company has a market capitalization of $2.51 billion, a P/E ratio of 9.43 and a beta of 1.49. The business has a 50 day moving average price of $73.89 and a 200 day moving average price of $72.98. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01.
Customers Bancorp (NYSE:CUBI – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. During the same period last year, the business posted $1.54 EPS. Customers Bancorp’s quarterly revenue was up 57.9% on a year-over-year basis. Sell-side analysts expect that Customers Bancorp, Inc will post 8.52 EPS for the current fiscal year.
Customers Bancorp declared that its board has authorized a stock repurchase plan 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 plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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