Public Sector Pension Investment Board Purchases 13,464 Shares of Customers Bancorp, Inc $CUBI

Public Sector Pension Investment Board raised its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,689 shares of the bank’s stock after purchasing an additional 13,464 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.42% of Customers Bancorp worth $8,739,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in shares of Customers Bancorp by 63.1% in the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the period. Jones Financial Companies Lllp bought a new stake in Customers Bancorp during the 1st quarter valued at $37,000. CX Institutional bought a new stake in Customers Bancorp during the 3rd quarter valued at $67,000. Smartleaf Asset Management LLC lifted its position in shares of Customers Bancorp by 17.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after acquiring an additional 256 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Customers Bancorp by 24.8% in the second quarter. Osaic Holdings Inc. now owns 2,121 shares of the bank’s stock worth $124,000 after acquiring an additional 421 shares during the period. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Up 1.4%

Shares of CUBI opened at $72.64 on Tuesday. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $82.56. The company has a market capitalization of $2.48 billion, a P/E ratio of 11.72 and a beta of 1.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50 day simple moving average is $75.93 and its 200 day simple moving average is $70.02.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $236.90 million during the quarter, compared to analysts’ expectations of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same quarter in the previous year, the company earned $1.36 EPS. Sell-side analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp announced that its board has authorized a stock repurchase program on Wednesday, February 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Philip Watkins sold 2,900 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the transaction, the executive vice president owned 50,849 shares of the company’s stock, valued at $3,307,218.96. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay S. Sidhu sold 128,185 shares of Customers Bancorp 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 approximately $54,851,852.33. This trade represents a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 138,564 shares of company stock worth $9,612,479. 6.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 price target on shares of Customers Bancorp in a report on Tuesday, January 6th. Wall Street Zen lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a report on Monday, January 26th. Finally, Hovde Group raised their price target on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $87.80.

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.