UBS Group AG Purchases 51,725 Shares of Customers Bancorp, Inc $CUBI

UBS Group AG boosted its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 273,933 shares of the bank’s stock after buying an additional 51,725 shares during the period. UBS Group AG owned approximately 0.80% of Customers Bancorp worth $20,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CUBI. Anatole Investment Management Ltd acquired a new stake in shares of Customers Bancorp during the 2nd quarter worth approximately $17,593,000. Millennium Management LLC boosted its holdings in shares of Customers Bancorp by 448.8% in the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock valued at $21,427,000 after purchasing an additional 268,056 shares in the last quarter. Emerald Advisers LLC bought a new position in shares of Customers Bancorp in the 3rd quarter valued at $15,150,000. Balyasny Asset Management L.P. raised its holdings in shares of Customers Bancorp by 3,173.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 158,429 shares of the bank’s stock worth $10,357,000 after buying an additional 153,589 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Customers Bancorp during the 3rd quarter worth $9,481,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CUBI. JPMorgan Chase & Co. decreased their target price on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Morgan Stanley lowered their price objective 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. Piper Sandler reissued an “overweight” rating and issued a $86.00 price objective (up from $82.00) on shares of Customers Bancorp in a research note on Monday, April 27th. Hovde Group raised their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen cut shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $74.16 on Tuesday. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.41 and a beta of 1.52. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. The business’s 50-day moving average price is $71.73 and its 200-day moving average price is $72.24. Customers Bancorp, Inc has a 12 month low of $49.54 and a 12 month high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The firm’s revenue was up 57.9% compared to the same quarter last year. Equities research analysts forecast that Customers Bancorp, Inc will post 8.52 EPS for the current year.

Customers Bancorp declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.