Customers Bancorp, Inc $CUBI Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,637 shares of the bank’s stock after acquiring an additional 37,309 shares during the quarter. JPMorgan Chase & Co.’s holdings in Customers Bancorp were worth $25,589,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CUBI. Teacher Retirement System of Texas grew its stake in shares of Customers Bancorp by 4.2% in the second quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock worth $267,000 after purchasing an additional 185 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Customers Bancorp by 5.3% during the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank’s stock valued at $222,000 after purchasing an additional 223 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Customers Bancorp by 4.6% in the second quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock worth $327,000 after purchasing an additional 243 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Customers Bancorp by 8.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,872 shares of the bank’s stock valued at $404,000 after buying an additional 548 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Customers Bancorp by 11.5% during the 1st quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after buying an additional 553 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Price Performance

NYSE CUBI opened at $70.91 on Thursday. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $72.51. The business’s fifty day moving average is $66.42 and its two-hundred day moving average is $63.20. The stock has a market capitalization of $2.42 billion, a P/E ratio of 14.38 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on CUBI shares. Hovde Group upped their price target on shares of Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Keefe, Bruyette & Woods upped their target price on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. DA Davidson lifted their price target on Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Customers Bancorp in a research note on Monday. Finally, National Bankshares set a $89.00 price objective on Customers Bancorp in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Insider Buying and Selling

In other Customers Bancorp news, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.04, for a total transaction of $188,616.00. Following the sale, the executive vice president owned 50,849 shares in the company, valued at approximately $3,307,218.96. The trade was a 5.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 128,185 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the sale, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at $54,851,852.33. This represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 211,900 shares of company stock valued at $14,595,664. 8.69% of the stock is owned by corporate insiders.

Customers Bancorp Profile

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.