Fortress Investment Group LLC Takes $2.86 Million Position in Customers Bancorp, Inc $CUBI

Fortress Investment Group LLC acquired a new stake in Customers Bancorp, Inc (NYSE:CUBI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 43,756 shares of the bank’s stock, valued at approximately $2,860,000.

A number of other institutional investors have also recently added to or reduced their stakes in CUBI. Capitolis Liquid Global Markets LLC purchased a new position in Customers Bancorp in the third quarter valued at about $1,608,000. Bank of America Corp DE boosted its stake in shares of Customers Bancorp by 21.1% during the 3rd quarter. Bank of America Corp DE now owns 113,773 shares of the bank’s stock worth $7,437,000 after acquiring an additional 19,844 shares in the last quarter. Aquatic Capital Management LLC grew its holdings in shares of Customers Bancorp by 668.6% in the 3rd quarter. Aquatic Capital Management LLC now owns 9,223 shares of the bank’s stock worth $603,000 after acquiring an additional 8,023 shares during the period. Algert Global LLC increased its stake in Customers Bancorp by 6.1% in the 3rd quarter. Algert Global LLC now owns 125,597 shares of the bank’s stock valued at $8,210,000 after purchasing an additional 7,265 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Customers Bancorp by 0.5% in the 3rd quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock valued at $2,226,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

Customers Bancorp stock opened at $64.68 on Monday. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $82.56. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.43 and a beta of 1.66. The stock has a fifty day moving average of $74.03 and a two-hundred day moving average of $70.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The business had revenue of $236.90 million for the quarter, compared to the consensus estimate of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same period in the prior year, the business earned $1.36 earnings per share. On average, analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS 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.

Analyst Ratings Changes

A number of analysts have commented on CUBI shares. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of Customers Bancorp in a research report on Tuesday, January 6th. Stephens cut Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a research report on Friday, February 6th. Maxim Group set a $100.00 price target on Customers Bancorp in a research note on Monday, January 26th. 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 research report on Monday, January 26th. Finally, TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.67.

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.