Royce & Associates LP Lowers Position in Customers Bancorp, Inc $CUBI

Royce & Associates LP decreased its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,830 shares of the bank’s stock after selling 17,129 shares during the quarter. Royce & Associates LP’s holdings in Customers Bancorp were worth $17,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CUBI. EJF Capital LLC bought a new stake in Customers Bancorp during the third quarter valued at approximately $1,711,000. Rafferty Asset Management LLC raised its position in shares of Customers Bancorp by 30.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 49,833 shares of the bank’s stock valued at $3,258,000 after buying an additional 11,494 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Customers Bancorp by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after acquiring an additional 69,200 shares during the last quarter. Quantbot Technologies LP grew its position in Customers Bancorp by 96.4% in the third quarter. Quantbot Technologies LP now owns 62,440 shares of the bank’s stock worth $4,082,000 after acquiring an additional 30,643 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in Customers Bancorp by 451.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after acquiring an additional 767 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Stock Up 2.4%

Shares of Customers Bancorp stock opened at $69.07 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $82.56. The company’s 50 day moving average price is $75.36 and its 200-day moving average price is $70.56. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 11.14 and a beta of 1.66.

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, beating the consensus estimate of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The business had revenue of $236.90 million during the quarter, compared to analysts’ expectations of $200.38 million. During the same quarter in the prior year, the company posted $1.36 EPS. Equities research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Customers Bancorp announced that its Board of Directors has authorized a share buyback program on Wednesday, February 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Jay S. Sidhu sold 128,185 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total value of $8,899,884.55. Following the sale, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.92% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CUBI shares. Morgan Stanley lifted their price target on Customers Bancorp from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday. Maxim Group set a $100.00 target price on Customers Bancorp in a research report on Monday, January 26th. TD Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price target on shares of Customers Bancorp in a research note on Tuesday, January 6th. Finally, DA Davidson boosted their price objective on shares of Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.