Customers Bancorp, Inc. (NYSE:CUBI) Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 74.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,349 shares of the bank’s stock after purchasing an additional 10,797 shares during the quarter. Intech Investment Management LLC owned 0.08% of Customers Bancorp worth $1,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CUBI. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at $48,000. GAMMA Investing LLC raised its holdings in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after buying an additional 282 shares during the period. Innealta Capital LLC purchased a new stake in Customers Bancorp during the second quarter valued at about $74,000. Quest Partners LLC boosted its holdings in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after buying an additional 962 shares during the period. Finally, CWM LLC increased its position in shares of Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CUBI. Raymond James decreased their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Friday, August 9th. Piper Sandler lowered their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, B. Riley increased their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.11.

Customers Bancorp Stock Performance

Shares of CUBI opened at $56.58 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49. The company’s fifty day moving average is $48.65 and its 200-day moving average is $49.61. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 9.19 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same quarter last year, the company posted $2.59 EPS. The business’s revenue was down 23.2% compared to the same quarter last year. Equities analysts expect that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In other news, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay S. Sidhu sold 860 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares in the company, valued at $65,114,360.74. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,440 shares of company stock worth $5,425,815. 6.92% of the stock is owned by 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.