Federated Hermes Inc. Has $7.96 Million Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Federated Hermes Inc. raised its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 3,784.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,196 shares of the bank’s stock after buying an additional 134,638 shares during the quarter. Federated Hermes Inc. owned 0.44% of Customers Bancorp worth $7,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Customers Bancorp by 55.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,381 shares of the bank’s stock valued at $425,000 after buying an additional 2,644 shares during the period. Cookson Peirce & Co. Inc. bought a new stake in shares of Customers Bancorp in the fourth quarter worth about $234,000. Mackenzie Financial Corp bought a new stake in shares of Customers Bancorp in the fourth quarter worth about $238,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Customers Bancorp in the fourth quarter worth about $1,254,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Customers Bancorp in the fourth quarter worth about $314,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity

In other news, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the sale, the insider now directly owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The disclosure for this sale can be found here. Insiders own 9.40% of the company’s stock.

Customers Bancorp Stock Performance

CUBI opened at $50.07 on Thursday. Customers Bancorp, Inc. has a 12-month low of $15.80 and a 12-month high of $60.09. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 6.85 and a beta of 1.67. The business has a 50 day moving average of $51.68 and a 200-day moving average of $48.88. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.92.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The company had revenue of $191.18 million during the quarter, compared to analysts’ expectations of $187.87 million. On average, equities research analysts expect that Customers Bancorp, Inc. will post 6.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. B. Riley increased their price target on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Wedbush decreased their price objective on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Raymond James increased their price objective on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group increased their price objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

About Customers Bancorp

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.