Customers Bancorp, Inc $CUBI Position Boosted by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 43.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,848 shares of the bank’s stock after purchasing an additional 9,073 shares during the period. WINTON GROUP Ltd owned about 0.09% of Customers Bancorp worth $2,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CUBI. Arax Advisory Partners increased its holdings in shares of Customers Bancorp by 218.9% in 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Customers Bancorp during the 3rd quarter worth $29,000. Public Employees Retirement System of Ohio bought a new stake in shares of Customers Bancorp during the 2nd quarter worth $40,000. Bessemer Group Inc. grew its holdings in shares of Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after acquiring an additional 232 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Customers Bancorp by 41.0% in the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock worth $44,000 after acquiring an additional 163 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Customers Bancorp news, Chairman Jay Sidhu sold 68,821 shares of the 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 transaction, the chairman directly owned 667,757 shares of the company’s stock, valued at $53,480,658.13. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 100,000 shares of company stock worth $7,981,084 over the last 90 days. Corporate insiders own 10.45% of the company’s stock.

Customers Bancorp Trading Up 0.0%

Shares of NYSE CUBI opened at $78.87 on Friday. The business has a 50 day simple moving average of $79.14 and a 200 day simple moving average of $75.42. Customers Bancorp, Inc has a 52 week low of $59.34 and a 52 week high of $84.38. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 9.62 and a beta of 1.47. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm had revenue of $227.28 million during the quarter, compared to analysts’ expectations of $229.24 million. During the same period in the previous year, the company earned $1.80 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Customers Bancorp, Inc will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley downgraded Customers Bancorp from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $88.00 to $89.00 in a report on Tuesday. Piper Sandler boosted their price objective on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. DA Davidson upped their price objective on shares of Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $90.77.

About Customers Bancorp

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking services to businesses, institutions, professionals and individual consumers.

Customers Bank offers commercial and industrial lending, commercial real estate loans, small business financing, residential and consumer loans, deposit accounts, cash-management services and other treasury-management solutions. The bank also operates specialty and digital banking businesses designed to support technology companies, venture-backed businesses, financial institutions and other commercial clients.

Customers Bancorp was established in 2009 and has developed from a regional banking organization into a bank with both Mid-Atlantic operations and nationally oriented specialty-finance and digital capabilities.