Intech Investment Management LLC Increases Position in Customers Bancorp, Inc $CUBI

Intech Investment Management LLC increased its stake in Customers Bancorp, Inc (NYSE:CUBI) by 255.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 120,617 shares of the bank’s stock after acquiring an additional 86,654 shares during the quarter. Intech Investment Management LLC’s holdings in Customers Bancorp were worth $8,820,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $29,000. Jones Financial Companies Lllp purchased a new position in shares of Customers Bancorp in the 1st quarter valued at about $37,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after purchasing an additional 767 shares in the last quarter. KBC Group NV increased its holdings in shares of Customers Bancorp by 59.7% in the 4th quarter. KBC Group NV now owns 1,595 shares of the bank’s stock valued at $117,000 after purchasing an additional 596 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock valued at $115,000 after purchasing an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CUBI shares. DA Davidson increased their price target on shares of Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a report 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 report on Tuesday, April 28th. Stephens upgraded shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 target price for the company in a report on Monday, March 16th. Piper Sandler restated an “overweight” rating and set a $86.00 target price (up from $82.00) on shares of Customers Bancorp in a report on Monday, April 27th. Finally, Zacks Research downgraded shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Insider Transactions at Customers Bancorp

In other news, CEO Samvir S. Sidhu purchased 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares in the company, valued at $37,866,002.12. This represents a 0.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 10.45% of the company’s stock.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $75.16 on Friday. 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 firm has a 50-day moving average price of $73.75 and a two-hundred day moving average price of $72.91. Customers Bancorp, Inc has a twelve month low of $49.54 and a twelve month high of $82.56. The company has a market capitalization of $2.54 billion, a P/E ratio of 9.54 and a beta of 1.52.

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

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

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.