Jupiter Topco LLC Takes Position in Customers Bancorp, Inc $CUBI

Jupiter Topco LLC bought 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 SEC. The firm bought 15,722 shares of the bank’s stock, valued at approximately $1,244,000.

Other hedge funds also recently made changes to their positions in the company. Arax Advisory Partners grew its holdings in Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after purchasing an additional 243 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $29,000. Bessemer Group Inc. grew its position in Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after acquiring an additional 232 shares during the last quarter. Versant Capital Management Inc increased its position in Customers Bancorp by 41.0% during the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock worth $44,000 after purchasing an additional 163 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its holdings in Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after purchasing an additional 404 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $80.81 on Friday. Customers Bancorp, Inc has a fifty-two week low of $59.34 and a fifty-two week high of $84.38. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 9.85 and a beta of 1.47. The company has a 50 day simple moving average of $79.10 and a two-hundred day simple moving average of $75.21. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on CUBI shares. Keefe, Bruyette & Woods raised their target price on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Morgan Stanley increased their target price on shares of Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. JPMorgan Chase & Co. lifted their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, DA Davidson boosted their price objective on shares of Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.69.

Insider Buying and Selling at Customers Bancorp

In other news, Chairman Jay Sidhu sold 68,821 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the transaction, the chairman directly owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 100,000 shares of company stock worth $7,981,084 in the last ninety days. 10.45% of the stock is currently owned by company insiders.

Customers Bancorp 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.