The Manufacturers Life Insurance Company Takes Position in Customers Bancorp, Inc $CUBI

The Manufacturers Life Insurance Company purchased a new position in Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,377 shares of the bank’s stock, valued at approximately $1,216,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Arax Advisory Partners lifted its stake in shares of Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after buying an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Customers Bancorp during the 3rd quarter valued at $29,000. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the 1st quarter worth $37,000. Bessemer Group Inc. raised its stake in shares of Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after purchasing an additional 232 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after purchasing an additional 404 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, Chairman Jay Sidhu sold 68,821 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the completion of the transaction, the chairman owned 667,757 shares in the company, valued at $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 100,000 shares of company stock valued at $7,981,084 over the last ninety days. 10.45% of the stock is owned by company insiders.

Customers Bancorp Trading Up 1.5%

Shares of CUBI opened at $80.81 on Friday. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $84.38. The company has a market cap of $2.73 billion, a P/E ratio of 9.85 and a beta of 1.47. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $79.10 and its 200-day simple moving average is $75.21.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CUBI shares. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. DA Davidson increased their price target on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Piper Sandler upped their target price on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Finally, Morgan Stanley upped their price target on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. One investment 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 MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $90.69.

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.