Concurrent Investment Advisors LLC Purchases 8,012 Shares of Customers Bancorp, Inc $CUBI

Concurrent Investment Advisors LLC increased its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 127.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,297 shares of the bank’s stock after buying an additional 8,012 shares during the period. Concurrent Investment Advisors LLC’s holdings in Customers Bancorp were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Customers Bancorp by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock worth $140,892,000 after acquiring an additional 81,200 shares during the period. American Century Companies Inc. lifted its stake in shares of Customers Bancorp by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock valued at $61,829,000 after purchasing an additional 69,200 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Customers Bancorp by 5.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 421,852 shares of the bank’s stock valued at $31,428,000 after purchasing an additional 23,129 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Customers Bancorp by 13.9% during the 3rd quarter. Tidal Investments LLC now owns 343,979 shares of the bank’s stock valued at $22,486,000 after purchasing an additional 41,997 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Customers Bancorp by 448.8% during the third quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after purchasing an additional 268,056 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CUBI shares. Zacks Research lowered Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price objective on shares of Customers Bancorp in a research note on Tuesday, January 6th. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a research report on Monday, January 26th. Morgan Stanley cut their target price on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $87.50.

Customers Bancorp Stock Up 0.6%

Shares of NYSE:CUBI opened at $76.30 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01. Customers Bancorp, Inc has a 52-week low of $49.38 and a 52-week high of $82.56. The business’s 50 day simple moving average is $71.14 and its two-hundred day simple moving average is $71.69. The firm has a market cap of $2.57 billion, a P/E ratio of 9.68 and a beta of 1.57.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s quarterly revenue was up 57.9% on a year-over-year basis. As a group, research analysts forecast that Customers Bancorp, Inc will post 8.5 EPS for the current fiscal year.

Customers Bancorp declared that its board has authorized a stock buyback program on Wednesday, February 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.