Heartland Advisors Inc. Takes Position in Customers Bancorp, Inc $CUBI

Heartland Advisors Inc. acquired a new position in Customers Bancorp, Inc (NYSE:CUBI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 150,000 shares of the bank’s stock, valued at approximately $11,865,000. Heartland Advisors Inc. owned approximately 0.44% of Customers Bancorp as of its most recent SEC filing.

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

Analysts Set New Price Targets

CUBI has been the subject of a number of analyst reports. Hovde Group increased their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Fundamental Research set a $94.00 price target on shares of Customers Bancorp in a report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price objective on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Morgan Stanley raised their price objective on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.69.

Customers Bancorp Price Performance

NYSE CUBI opened at $79.84 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s fifty day moving average price is $78.79 and its 200 day moving average price is $74.97. Customers Bancorp, Inc has a 1 year low of $59.34 and a 1 year high of $84.38. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 9.74 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 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. The company had revenue of $227.28 million during the quarter, compared to analysts’ expectations of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 EPS. As a group, equities research analysts forecast that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

Insider Activity

In related news, Chairman Jay S. Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction dated Monday, August 3rd. The stock was 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 owned 667,757 shares of the company’s stock, valued at $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 160,315 shares of company stock valued at $12,578,896 in the last three months. Company insiders own 10.45% of the company’s stock.

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.