Aristotle Capital Boston LLC lessened its position in shares of Customers Bancorp, Inc (NYSE:CUBI – Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,214 shares of the bank’s stock after selling 29,460 shares during the period. Aristotle Capital Boston LLC’s holdings in Customers Bancorp were worth $19,758,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Customers Bancorp by 3,074.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock valued at $63,732,000 after buying an additional 844,141 shares in the last quarter. Anatole Investment Management Ltd acquired a new position in shares of Customers Bancorp in the 2nd quarter valued at $17,593,000. Millennium Management LLC boosted its holdings in shares of Customers Bancorp by 448.8% in the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock valued at $21,427,000 after buying an additional 268,056 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Customers Bancorp by 247,273.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after buying an additional 222,546 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Customers Bancorp by 3,173.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 158,429 shares of the bank’s stock valued at $10,357,000 after buying an additional 153,589 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. DA Davidson upped their target price on shares of Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a report on Monday, April 27th. Zacks Research cut shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Hovde Group upped their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Finally, Stephens upgraded shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 target price for the company in a report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.
Customers Bancorp Stock Down 2.0%
CUBI stock opened at $74.96 on Thursday. The company has a fifty day moving average price of $75.43 and a 200 day moving average price of $73.72. Customers Bancorp, Inc has a 12 month low of $50.69 and a 12 month high of $82.56. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 9.51 and a beta of 1.49. 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 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 the consensus estimate of $223.51 million. During the same quarter in the prior year, the firm earned $1.54 EPS. Customers Bancorp’s revenue for the quarter was up 57.9% on a year-over-year basis. Sell-side analysts expect that Customers Bancorp, Inc will post 8.52 earnings per share for the current year.
Insider Activity at Customers Bancorp
In other Customers Bancorp news, Chairman Jay S. Sidhu sold 60,315 shares of the company’s stock in a transaction on 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 transaction, the chairman owned 767,557 shares in the company, valued at approximately $58,510,870.11. This represents a 7.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $75.67, for a total transaction of $227,010.00. Following the transaction, the executive vice president owned 43,993 shares of the company’s stock, valued at approximately $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 insiders.
Customers Bancorp 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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