Empowered Funds LLC Purchases Shares of 158,088 Customers Bancorp, Inc $CUBI

Empowered Funds LLC purchased a new stake in Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 158,088 shares of the bank’s stock, valued at approximately $12,505,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Customers Bancorp in the 2nd quarter valued at $385,165,000. Price T Rowe Associates Inc. MD raised its holdings in Customers Bancorp by 3,074.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares during the period. Assenagon Asset Management S.A. lifted its position in Customers Bancorp by 213.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock worth $54,056,000 after acquiring an additional 529,987 shares during the last quarter. Anatole Investment Management Ltd acquired a new position in Customers Bancorp during the 2nd quarter worth $17,593,000. Finally, Millennium Management LLC boosted its holdings in Customers Bancorp by 448.8% during the third quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock valued at $21,427,000 after acquiring an additional 268,056 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $78.57 on Friday. The stock has a 50 day moving average of $79.08 and a two-hundred day moving average of $75.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $84.38. The company has a market capitalization of $2.65 billion, a P/E ratio of 9.58 and a beta of 1.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. The business had revenue of $227.28 million for the quarter, compared to analysts’ expectations of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.Customers Bancorp’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.80 earnings per share. As a group, equities analysts expect that Customers Bancorp, Inc will post 8.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price target 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. JPMorgan Chase & Co. boosted their price objective on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Fundamental Research set a $94.00 target price on Customers Bancorp in a research note on Wednesday, July 1st. DA Davidson lifted their price target on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Morgan Stanley increased their price objective on Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and an average price target of $90.69.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the sale, the chairman directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 100,000 shares of company stock worth $7,981,084. 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.