112,372 Shares in Customers Bancorp, Inc $CUBI Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 112,372 shares of the bank’s stock, valued at approximately $8,889,000.

A number of other large investors also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its holdings in Customers Bancorp by 41.0% in the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after acquiring an additional 163 shares during the period. Lido Advisors LLC grew its stake in shares of Customers Bancorp by 3.0% during the 4th quarter. Lido Advisors LLC now owns 6,135 shares of the bank’s stock worth $412,000 after purchasing an additional 178 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Customers Bancorp by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock valued at $2,226,000 after purchasing an additional 182 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Customers Bancorp by 1.3% during the 4th quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank’s stock valued at $1,289,000 after purchasing an additional 230 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after purchasing an additional 232 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Stock Down 2.0%

Customers Bancorp stock opened at $81.91 on Tuesday. The stock has a market capitalization of $2.77 billion, a PE ratio of 9.99 and a beta of 1.49. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $84.38. The business has a 50 day simple moving average of $78.55 and a 200-day simple moving average of $74.90. 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 (NYSE:CUBI) last announced its earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The business had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same period in the prior year, the company posted $1.80 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

Analyst Ratings Changes

CUBI has been the topic of a number of recent analyst reports. Hovde Group increased their price target on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Piper Sandler lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Fundamental Research set a $94.00 price objective on shares of Customers Bancorp in a research report on Wednesday, July 1st. Finally, Morgan Stanley increased 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. 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 stock. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and a consensus price target of $90.69.

Insider Buying and Selling

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the business’s 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 160,315 shares of company stock valued at $12,578,896. 10.45% of the stock is currently owned by insiders.

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.