Access Investment Management LLC Has $8.66 Million Holdings in Customers Bancorp, Inc $CUBI

Access Investment Management LLC increased its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,415 shares of the bank’s stock after buying an additional 18,000 shares during the period. Customers Bancorp accounts for approximately 2.3% of Access Investment Management LLC’s holdings, making the stock its 14th biggest holding. Access Investment Management LLC owned about 0.42% of Customers Bancorp worth $8,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in Customers Bancorp by 29.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 290,919 shares of the bank’s stock valued at $19,017,000 after buying an additional 65,382 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Customers Bancorp during the second quarter valued at $418,000. First Eagle Investment Management LLC lifted its stake in shares of Customers Bancorp by 15.8% during the second quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock valued at $5,857,000 after acquiring an additional 13,600 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Customers Bancorp by 7.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 398,723 shares of the bank’s stock valued at $25,718,000 after acquiring an additional 28,928 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Customers Bancorp in the second quarter worth about $239,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CUBI. Wall Street Zen downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Morgan Stanley began coverage on shares of Customers Bancorp in a research note on Monday, December 8th. They set an “equal weight” rating and a $90.00 price target for the company. Stephens increased their price objective on shares of Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Customers Bancorp in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Insiders Place Their Bets

In other Customers Bancorp news, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the completion of the transaction, the executive vice president directly owned 50,849 shares of the company’s stock, valued at approximately $3,307,218.96. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the sale, the director directly owned 7,524 shares in the company, valued at approximately $503,581.32. This represents a 54.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 211,900 shares of company stock worth $14,595,664. Corporate insiders own 8.69% of the company’s stock.

Customers Bancorp Stock Up 0.3%

Shares of NYSE CUBI opened at $79.21 on Friday. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $82.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $2.71 billion, a P/E ratio of 12.78 and a beta of 1.61. The firm has a 50 day moving average price of $74.71 and a 200 day moving average price of $69.11.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The company had revenue of $236.90 million for the quarter, compared to analysts’ expectations of $200.38 million. During the same period last year, the firm posted $1.36 earnings per share. Analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Customers Bancorp Company 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.