Access Investment Management LLC Has $8.66 Million Stake in Customers Bancorp, Inc $CUBI

Access Investment Management LLC increased its stake in Customers Bancorp, Inc (NYSE:CUBI) by 15.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,415 shares of the bank’s stock after purchasing an additional 18,000 shares during the period. Customers Bancorp makes up 2.3% of Access Investment Management LLC’s holdings, making the stock its 14th largest position. Access Investment Management LLC’s holdings in Customers Bancorp were worth $8,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CUBI. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp during the first quarter worth about $37,000. Farther Finance Advisors LLC lifted its stake in Customers Bancorp by 63.1% in 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 in the last quarter. CX Institutional acquired a new position in Customers Bancorp during the 3rd quarter worth approximately $67,000. Osaic Holdings Inc. boosted its position in Customers Bancorp by 24.8% during the 2nd 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 last quarter. Finally, Corton Capital Inc. bought a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insiders Place Their Bets

In other Customers Bancorp news, Director Bernard Bennett Banks sold 9,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $66.93, for a total value of $602,370.00. Following the transaction, the director directly owned 7,524 shares in the company, valued at $503,581.32. The trade was a 54.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philip Watkins sold 2,900 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $65.04, for a total transaction of $188,616.00. Following the completion of the transaction, the executive vice president directly owned 50,849 shares in the company, valued at $3,307,218.96. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,900 shares of company stock valued at $14,595,664 over the last ninety days. 8.69% of the stock is currently owned by company insiders.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $79.21 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average price is $74.71 and its two-hundred day moving average price is $69.11. The company has a market cap of $2.71 billion, a PE ratio of 12.78 and a beta of 1.61. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $82.56.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. The company had revenue of $236.90 million during 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 previous year, the company posted $1.36 EPS. On average, analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on CUBI. Stephens increased their target price on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Morgan Stanley began coverage on shares of Customers Bancorp in a research report on Monday, December 8th. They set an “equal weight” rating and a $90.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Monday, October 27th. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price target on shares of Customers Bancorp in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $87.50.

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.