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

Quantbot Technologies LP grew its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 96.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,440 shares of the bank’s stock after buying an additional 30,643 shares during the period. Quantbot Technologies LP’s holdings in Customers Bancorp were worth $4,082,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in Customers Bancorp in the 1st quarter valued at about $37,000. Farther Finance Advisors LLC boosted its position in Customers Bancorp by 63.1% during the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after purchasing an additional 260 shares during the period. Aster Capital Management DIFC Ltd increased its stake in shares of Customers Bancorp by 451.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after purchasing an additional 767 shares in the last quarter. CX Institutional bought a new stake in shares of Customers Bancorp in the third quarter valued at approximately $67,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Customers Bancorp by 17.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock valued at $115,000 after buying an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Customers Bancorp in a report on Monday, December 29th. Morgan Stanley started coverage on Customers Bancorp in a research report on Monday, December 8th. They set an “equal weight” rating and a $90.00 target price on the stock. Maxim Group set a $100.00 price target on Customers Bancorp in a report on Monday, January 26th. DA Davidson lifted their price target on Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.80.

Customers Bancorp Stock Down 6.6%

Shares of NYSE:CUBI opened at $67.24 on Monday. The firm 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 market cap of $2.30 billion, a price-to-earnings ratio of 10.84 and a beta of 1.66. 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, Inc has a one year low of $40.75 and a one year high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The firm 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 prior year, the firm posted $1.36 earnings per share. Analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp declared that its board has authorized a stock buyback program 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 programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu sold 128,185 shares of the firm’s 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 owned 790,031 shares of the company’s stock, valued at $54,851,852.33. This trade represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.92% of the stock is owned by corporate insiders.

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.