Empowered Funds LLC Purchases Shares of 90,662 Customers Bancorp, Inc $CUBI

Empowered Funds LLC acquired a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) in the second quarter, Holdings Channel.com reports. The fund acquired 90,662 shares of the bank’s stock, valued at approximately $5,325,000.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of Customers Bancorp by 34.3% during the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after purchasing an additional 902,406 shares during the period. Nuveen LLC purchased a new position in Customers Bancorp in the 1st quarter worth about $26,652,000. Millennium Management LLC increased its stake in Customers Bancorp by 71.4% in the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after purchasing an additional 114,430 shares in the last quarter. Access Investment Management LLC acquired a new stake in Customers Bancorp during the 2nd quarter worth about $6,721,000. Finally, Trexquant Investment LP lifted its stake in Customers Bancorp by 207.1% during the first quarter. Trexquant Investment LP now owns 107,559 shares of the bank’s stock valued at $5,399,000 after buying an additional 72,540 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CUBI shares. TD Cowen lifted their target price on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Stephens lifted their price objective on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. National Bankshares set a $89.00 target price on shares of Customers Bancorp in a research note on Wednesday, September 24th. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Monday, October 27th. Finally, Wall Street Zen upgraded Customers Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Customers Bancorp Trading Down 1.9%

Shares of NYSE:CUBI opened at $63.79 on Friday. The firm has a fifty day moving average of $66.10 and a two-hundred day moving average of $62.13. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $72.51. The firm has a market capitalization of $2.18 billion, a P/E ratio of 12.94 and a beta of 1.64.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. The business had revenue of $206.82 million for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. On average, equities analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In related news, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $66.93, for a total transaction of $602,370.00. Following the transaction, the director owned 7,524 shares of the company’s stock, valued at approximately $503,581.32. This trade represents a 54.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay S. Sidhu sold 2,522 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $68.39, for a total transaction of $172,479.58. Following the completion of the sale, the chief executive officer owned 925,695 shares of the company’s stock, valued at $63,308,281.05. This trade represents a 0.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,336 shares of company stock valued at $4,983,184 over the last ninety days. Company insiders own 8.69% of the company’s stock.

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.