Aristotle Capital Boston LLC Trims Stock Position in Customers Bancorp, Inc $CUBI

Aristotle Capital Boston LLC cut its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,214 shares of the bank’s stock after selling 29,460 shares during the period. Aristotle Capital Boston LLC owned approximately 0.79% of Customers Bancorp worth $19,758,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CUBI. Royal Bank of Canada increased its position in shares of Customers Bancorp by 11.5% during the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after acquiring an additional 553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Customers Bancorp by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock valued at $885,000 after acquiring an additional 786 shares during the last quarter. Millennium Management LLC increased its position in shares of Customers Bancorp by 71.4% during the first quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock valued at $13,791,000 after acquiring an additional 114,430 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp during the first quarter valued at about $37,000. Finally, Creative Planning acquired a new stake in shares of Customers Bancorp during the second quarter valued at about $250,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Price Performance

Shares of CUBI opened at $74.96 on Thursday. Customers Bancorp, Inc has a fifty-two week low of $50.69 and a fifty-two week high of $82.56. The firm’s 50 day moving average price is $75.43 and its 200 day moving average price is $73.72. The company has a market cap of $2.54 billion, a P/E ratio of 9.51 and a beta of 1.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.09. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The firm had revenue of $225.40 million for the quarter, compared to the consensus estimate of $223.51 million. During the same period in the prior year, the firm earned $1.54 EPS. The firm’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, research analysts forecast that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Jay S. Sidhu sold 60,315 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman directly owned 767,557 shares of the company’s stock, valued at $58,510,870.11. This represents a 7.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $75.67, for a total transaction of $227,010.00. Following the sale, the executive vice president directly owned 43,993 shares in the company, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.45% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. JPMorgan Chase & Co. dropped their price target on shares of Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Stephens upgraded shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target for the company in a research report on Monday, March 16th. Piper Sandler reiterated an “overweight” rating and set a $86.00 price target (up from $82.00) on shares of Customers Bancorp in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One equities 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.50.

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.