Heartland Advisors Inc. Makes New $11.87 Million Investment in Customers Bancorp, Inc $CUBI

Heartland Advisors Inc. acquired a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 150,000 shares of the bank’s stock, valued at approximately $11,865,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Arax Advisory Partners boosted its stake in shares of Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after buying an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Customers Bancorp during the third quarter valued at approximately $29,000. Bessemer Group Inc. raised its position in Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after acquiring an additional 232 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Customers Bancorp in the first quarter valued at approximately $37,000. Finally, Transamerica Financial Advisors LLC boosted its position in Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Trading Up 0.3%

CUBI stock opened at $79.84 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp, Inc has a 12-month low of $59.34 and a 12-month high of $84.38. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 9.74 and a beta of 1.49. The business’s 50-day moving average is $78.79 and its 200 day moving average is $74.97.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. The business had revenue of $227.28 million during the quarter, compared to analysts’ expectations of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.80 earnings per share. On average, sell-side analysts anticipate that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Hovde Group increased their price target on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Piper Sandler raised their price target on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $90.69.

Insider Activity at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the transaction, the chairman directly owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. This represents a 9.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 160,315 shares of company stock worth $12,578,896 in the last three months. 10.45% of the stock is currently owned by insiders.

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.