Customers Bancorp, Inc $CUBI Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 73.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,387 shares of the bank’s stock after purchasing an additional 8,624 shares during the quarter. Quantinno Capital Management LP owned approximately 0.06% of Customers Bancorp worth $1,415,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Customers Bancorp by 11.5% during the first 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Customers Bancorp by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock worth $885,000 after acquiring an additional 786 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Customers Bancorp by 71.4% during the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after acquiring an additional 114,430 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp during the 1st quarter valued at about $37,000. Finally, Creative Planning acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $250,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 68,821 shares of the stock in a transaction dated 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 in the company, valued at approximately $53,480,658.13. This represents a 9.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 160,315 shares of company stock worth $12,578,896. 10.45% of the stock is currently owned by corporate insiders.

Customers Bancorp Trading Up 0.7%

Shares of CUBI opened at $83.38 on Friday. Customers Bancorp, Inc has a 52-week low of $59.34 and a 52-week high of $84.38. The stock has a market cap of $2.82 billion, a PE ratio of 10.17 and a beta of 1.49. The firm’s fifty day moving average is $78.20 and its two-hundred day moving average is $74.82. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CUBI. Hovde Group lifted their price target on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. raised their price objective on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods boosted their price objective 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. Fundamental Research set a $94.00 target price on Customers Bancorp in a research note on Wednesday, July 1st. Finally, Piper Sandler increased their target price on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $90.69.

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.