Squarepoint Ops LLC Increases Stock Holdings in Customers Bancorp, Inc $CUBI

Squarepoint Ops LLC raised its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 39.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 137,530 shares of the bank’s stock after buying an additional 39,215 shares during the period. Squarepoint Ops LLC’s holdings in Customers Bancorp were worth $10,879,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Customers Bancorp in the second quarter valued at approximately $385,165,000. California State Teachers Retirement System lifted its position in Customers Bancorp by 7,606.1% during the 2nd quarter. California State Teachers Retirement System now owns 3,052,390 shares of the bank’s stock worth $241,444,000 after acquiring an additional 3,012,780 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Customers Bancorp by 3,074.6% during 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 purchasing an additional 844,141 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Customers Bancorp by 213.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after purchasing an additional 529,987 shares during the last quarter. Finally, Anatole Investment Management Ltd purchased a new position in shares of Customers Bancorp in the second quarter worth about $17,593,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insiders Place Their Bets

In other Customers Bancorp news, Chairman Jay Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the transaction, the chairman owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 100,000 shares of company stock valued at $7,981,084 over the last three months. 10.45% of the stock is currently owned by insiders.

Customers Bancorp Trading Down 0.7%

Customers Bancorp stock opened at $78.17 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $84.38. The stock’s 50 day simple moving average is $79.10 and its two-hundred day simple moving average is $75.36. The firm has a market cap of $2.64 billion, a PE ratio of 9.53 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The business had revenue of $227.28 million for the quarter, compared to analysts’ expectations of $229.24 million. During the same quarter last year, the company earned $1.80 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CUBI shares. Keefe, Bruyette & Woods upped their target price on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Piper Sandler upped their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Fundamental Research set a $94.00 price objective on shares of Customers Bancorp in a research note on Wednesday, July 1st. DA Davidson raised their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Morgan Stanley downgraded shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $88.00 to $89.00 in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.77.

About Customers Bancorp

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.