14,100 Shares in Customers Bancorp, Inc $CUBI Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Customers Bancorp, Inc (NYSE:CUBI) during the first quarter, HoldingsChannel reports. The firm purchased 14,100 shares of the bank’s stock, valued at approximately $979,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBI. Vanguard Group Inc. lifted its stake in shares of Customers Bancorp by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock worth $162,424,000 after buying an additional 66,031 shares during the last quarter. State Street Corp grew its stake in Customers Bancorp by 1.8% in the 4th quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock valued at $133,998,000 after buying an additional 32,449 shares during the last quarter. 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 valued at $63,732,000 after acquiring an additional 844,141 shares during the period. Assenagon Asset Management S.A. raised its holdings in Customers Bancorp by 213.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after acquiring an additional 529,987 shares during the period. Finally, Geode Capital Management LLC lifted its position in Customers Bancorp by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 757,845 shares of the bank’s stock worth $55,423,000 after acquiring an additional 63,984 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

CUBI has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday. Stephens raised Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target for the company in a report on Monday, March 16th. Piper Sandler upped their price objective on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Morgan Stanley increased their price objective on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, DA Davidson raised their target price on shares of Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.62.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $77.74 on Friday. The business has a fifty day simple moving average of $76.06 and a 200 day simple moving average of $74.33. The company has a market cap of $2.63 billion, a P/E ratio of 9.87 and a beta of 1.48. 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, Inc has a twelve month low of $59.34 and a twelve month high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The business’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 earnings per share. On average, sell-side analysts forecast that Customers Bancorp, Inc will post 8.47 EPS for the current fiscal year.

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.