Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by Cwm LLC

Cwm LLC lifted its position in Customers Bancorp, Inc. (NYSE:CUBI) by 14.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,198 shares of the bank’s stock after acquiring an additional 274 shares during the period. Cwm LLC’s holdings in Customers Bancorp were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in Customers Bancorp during the 2nd quarter valued at about $48,000. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp during the second quarter worth about $74,000. GAMMA Investing LLC boosted its position in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after buying an additional 282 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Customers Bancorp in the 2nd quarter worth approximately $151,000. Finally, Capstone Investment Advisors LLC purchased a new position in Customers Bancorp during the 1st quarter worth approximately $220,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBI has been the subject of several recent research reports. B. Riley raised their target price on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research note on Friday, August 9th. Jefferies Financial Group reduced their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. DA Davidson boosted their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Raymond James dropped their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Three investment 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. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Insiders Place Their Bets

In related news, CEO Samvir S. Sidhu bought 2,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.92% of the stock is currently owned by company insiders.

Customers Bancorp Stock Down 2.4 %

Shares of CUBI opened at $44.43 on Friday. The firm has a market cap of $1.40 billion, a P/E ratio of 6.21 and a beta of 1.61. Customers Bancorp, Inc. has a 12 month low of $32.39 and a 12 month high of $68.49. The stock’s 50 day moving average is $47.55 and its two-hundred day moving average is $49.03. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. Analysts predict that Customers Bancorp, Inc. will post 6.11 earnings per share for the current fiscal year.

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.