Quantbot Technologies LP Acquires 30,643 Shares of Customers Bancorp, Inc $CUBI

Quantbot Technologies LP boosted its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 96.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,440 shares of the bank’s stock after buying an additional 30,643 shares during the period. Quantbot Technologies LP owned approximately 0.18% of Customers Bancorp worth $4,082,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CUBI. Royal Bank of Canada increased its position in shares of Customers Bancorp by 11.5% during the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock worth $269,000 after acquiring an additional 553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Customers Bancorp by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock valued at $885,000 after purchasing an additional 786 shares during the last quarter. Millennium Management LLC increased its holdings in Customers Bancorp by 71.4% during the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after purchasing an additional 114,430 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Customers Bancorp in the first quarter worth approximately $37,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Customers Bancorp by 17.1% in the second quarter. Envestnet Asset Management Inc. now owns 22,328 shares of the bank’s stock worth $1,312,000 after purchasing an additional 3,253 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 128,185 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at $54,851,852.33. This represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CUBI has been the topic of several analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. Morgan Stanley initiated coverage on Customers Bancorp in a research note on Monday, December 8th. They set an “equal weight” rating and a $90.00 price objective on the stock. Stephens downgraded shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price objective on the stock. in a report on Friday, February 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 target price on shares of Customers Bancorp in a report on Tuesday, January 6th. Finally, Zacks Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.80.

Customers Bancorp Stock Down 6.6%

Shares of NYSE:CUBI opened at $67.24 on Monday. 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 $2.30 billion, a PE ratio of 10.84 and a beta of 1.66. The business has a fifty day moving average price of $75.52 and a two-hundred day moving average price of $70.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00.

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

Customers Bancorp declared that its board has approved a stock repurchase plan on Wednesday, February 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

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.