South Dakota Investment Council Sells 55,259 Shares of Customers Bancorp, Inc $CUBI

South Dakota Investment Council lessened its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,638 shares of the bank’s stock after selling 55,259 shares during the period. South Dakota Investment Council owned 0.41% of Customers Bancorp worth $9,194,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CUBI. Farther Finance Advisors LLC increased its holdings in shares of Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after acquiring an additional 260 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp in the first quarter worth $37,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of Customers Bancorp by 451.2% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after buying an additional 767 shares during the period. CX Institutional acquired a new position in Customers Bancorp in the 3rd quarter valued at $67,000. Finally, Smartleaf Asset Management LLC raised its holdings in Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after acquiring an additional 256 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Up 1.2%

Shares of CUBI stock opened at $69.89 on Wednesday. The stock has a fifty day moving average price of $75.23 and a 200 day moving average price of $70.59. The stock has a market cap of $2.39 billion, a P/E ratio of 11.27 and a beta of 1.66. Customers Bancorp, Inc has a one year low of $40.75 and a one year high of $82.56. 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 posted its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $236.90 million for 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 firm posted $1.36 earnings per share. Analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Customers Bancorp announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on CUBI. B. Riley Financial restated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. DA Davidson increased their target price on Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Maxim Group set a $100.00 price objective on Customers Bancorp in a research report on Monday, January 26th. TD Cowen restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of Customers Bancorp in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Customers Bancorp Company 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.