Philadelphia Financial Management of San Francisco LLC Invests $8.87 Million in Customers Bancorp, Inc $CUBI

Philadelphia Financial Management of San Francisco LLC acquired a new position in Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 112,143 shares of the bank’s stock, valued at approximately $8,870,511. Customers Bancorp makes up 0.0% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 17th largest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 0.33% of Customers Bancorp at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Customers Bancorp in the second quarter valued at approximately $385,165,000. Price T Rowe Associates Inc. MD increased its holdings in Customers Bancorp by 3,074.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Customers Bancorp by 213.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock worth $54,056,000 after purchasing an additional 529,987 shares during the period. Anatole Investment Management Ltd purchased a new stake in shares of Customers Bancorp during the 2nd quarter valued at $17,593,000. Finally, Millennium Management LLC raised its stake in shares of Customers Bancorp by 448.8% during the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after buying an additional 268,056 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the sale, the chairman owned 667,757 shares in the company, valued at $53,480,658.13. This represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 100,000 shares of company stock worth $7,981,084 over the last ninety days. Insiders own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Fundamental Research set a $94.00 price target on Customers Bancorp in a research report on Wednesday, July 1st. Morgan Stanley raised their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, DA Davidson upped their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.69.

Customers Bancorp Stock Down 0.6%

NYSE:CUBI traded down $0.46 during trading hours on Friday, hitting $78.57. 189,236 shares of the stock traded hands, compared to its average volume of 349,812. The firm has a 50 day moving average price of $79.02 and a 200 day moving average price of $74.98. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 9.58 and a beta of 1.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp, Inc has a fifty-two week low of $59.34 and a fifty-two week high of $84.38.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 net margin of 19.07% and a return on equity of 13.80%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $1.80 EPS. Equities research analysts anticipate that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

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.