21,402 Shares in Customers Bancorp, Inc $CUBI Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,402 shares of the bank’s stock, valued at approximately $1,693,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $385,165,000. Vanguard Group Inc. lifted its position in shares of Customers Bancorp by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock valued at $162,424,000 after buying an additional 66,031 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Customers Bancorp by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock valued at $134,859,000 after acquiring an additional 65,954 shares during the period. State Street Corp grew its stake in Customers Bancorp by 1.8% in the 4th quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock valued at $133,998,000 after acquiring an additional 32,449 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 844,141 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. DA Davidson upped their price objective on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Hovde Group lifted their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Morgan Stanley boosted their target price on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.69.

Insider Transactions at Customers Bancorp

In other news, Chairman Jay S. Sidhu sold 68,821 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the completion of the sale, the chairman owned 667,757 shares of the company’s stock, valued at $53,480,658.13. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 160,315 shares of company stock worth $12,578,896. Insiders own 10.45% of the company’s stock.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI opened at $79.03 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. Customers Bancorp, Inc has a 1 year low of $59.34 and a 1 year high of $84.38. The firm has a market capitalization of $2.67 billion, a PE ratio of 9.64 and a beta of 1.49. The business’s 50 day moving average price is $78.85 and its 200-day moving average price is $74.94.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. The firm had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.80 EPS. As a group, equities research analysts expect that Customers Bancorp, Inc will post 8.43 earnings per share for the current fiscal year.

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.