HighTower Advisors LLC Makes New $1.53 Million Investment in Customers Bancorp, Inc $CUBI

HighTower Advisors LLC purchased a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,985 shares of the bank’s stock, valued at approximately $1,534,000.

Several other hedge funds also recently bought and sold shares of the stock. Abacus Wealth Partners LLC purchased a new position in Customers Bancorp during the fourth quarter worth $240,000. Wakefield Asset Management LLLP purchased a new position in Customers Bancorp during the fourth quarter worth $1,221,000. Northwestern Mutual Wealth Management Co. increased its position in Customers Bancorp by 247,273.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after buying an additional 222,546 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Customers Bancorp by 213.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank’s stock worth $4,864,000 after buying an additional 45,299 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Customers Bancorp by 9.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,271 shares of the bank’s stock worth $532,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $72.58 per share, with a total value of $72,580.00. Following the completion of the transaction, the chief executive officer directly owned 521,714 shares in the company, valued at approximately $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total value of $4,597,812.45. Following the completion of the sale, the chairman directly owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. This represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CUBI shares. Piper Sandler reissued an “overweight” rating and set a $86.00 price target (up from $82.00) on shares of Customers Bancorp in a research report on Monday, April 27th. Weiss Ratings raised Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Hovde Group raised their price target on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price target on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Finally, Zacks Research downgraded Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $74.34 on Wednesday. The company has a market cap of $2.51 billion, a P/E ratio of 9.43 and a beta of 1.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. Customers Bancorp, Inc has a 52 week low of $50.06 and a 52 week high of $82.56. The business has a fifty day simple moving average of $73.89 and a 200-day simple moving average of $72.98.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The business had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The business’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. Equities research analysts forecast that Customers Bancorp, Inc will post 8.52 EPS for the current year.

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

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.