256,178 Shares in Customers Bancorp, Inc $CUBI Acquired by Tieton Capital Management LLC

Tieton Capital Management LLC bought a new position in Customers Bancorp, Inc (NYSE:CUBI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 256,178 shares of the bank’s stock, valued at approximately $20,264,000. Customers Bancorp accounts for about 5.8% of Tieton Capital Management LLC’s portfolio, making the stock its 2nd largest holding.

Other hedge funds also recently bought and sold shares of the company. Arax Advisory Partners increased its stake in shares of Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after buying an additional 243 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Customers Bancorp in the 3rd quarter worth about $29,000. Bessemer Group Inc. lifted its holdings in shares of Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after purchasing an additional 232 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Customers Bancorp during the first quarter valued at $37,000. Finally, Transamerica Financial Advisors LLC raised its position in shares of Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI opened at $78.66 on Thursday. 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 firm’s 50-day moving average is $78.71 and its 200 day moving average is $74.93. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $84.38. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 9.59 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CUBI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Keefe, Bruyette & Woods lifted their target price on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Hovde Group upped their price target on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. Morgan Stanley upped their price objective 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. Finally, Piper Sandler raised their target price on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.69.

Insider Buying and Selling at Customers Bancorp

In other news, Chairman Jay S. Sidhu sold 68,821 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the completion of the sale, the chairman directly owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 160,315 shares of company stock worth $12,578,896 in the last ninety days. 10.45% of the stock is currently owned by company insiders.

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.