Balyasny Asset Management L.P. Increases Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Balyasny Asset Management L.P. increased its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 65.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,716 shares of the bank’s stock after purchasing an additional 32,000 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.26% of Customers Bancorp worth $3,929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hood River Capital Management LLC boosted its position in shares of Customers Bancorp by 40.1% during the fourth quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock worth $71,606,000 after acquiring an additional 421,335 shares during the last quarter. Heartland Advisors Inc. bought a new position in Customers Bancorp during the 4th quarter worth about $7,672,000. JPMorgan Chase & Co. lifted its stake in shares of Customers Bancorp by 33.1% during the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock worth $20,912,000 after purchasing an additional 106,895 shares during the last quarter. Gator Capital Management LLC boosted its position in Customers Bancorp by 135.0% during the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank’s stock valued at $8,704,000 after purchasing an additional 102,701 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Customers Bancorp by 46.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after purchasing an additional 90,451 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CUBI. Keefe, Bruyette & Woods cut their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. DA Davidson upped their price target on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Maxim Group raised their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.80.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $51.82 on Friday. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49. The business’s 50 day moving average price is $48.70 and its 200 day moving average price is $51.15. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.63 billion, a P/E ratio of 10.20 and a beta of 1.51.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating the consensus estimate of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The business had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. During the same period in the prior year, the firm earned $1.68 EPS. On average, sell-side analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

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.