Public Sector Pension Investment Board Buys 13,464 Shares of Customers Bancorp, Inc $CUBI

Public Sector Pension Investment Board boosted its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,689 shares of the bank’s stock after acquiring an additional 13,464 shares during the quarter. Public Sector Pension Investment Board’s holdings in Customers Bancorp were worth $8,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CUBI. Access Investment Management LLC boosted its holdings in shares of Customers Bancorp by 15.7% during the third quarter. Access Investment Management LLC now owns 132,415 shares of the bank’s stock worth $8,656,000 after purchasing an additional 18,000 shares during the period. Assenagon Asset Management S.A. raised its position in Customers Bancorp by 29.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 290,919 shares of the bank’s stock valued at $19,017,000 after purchasing an additional 65,382 shares during the last quarter. Principal Financial Group Inc. raised its position in Customers Bancorp by 23.4% during the 3rd quarter. Principal Financial Group Inc. now owns 179,762 shares of the bank’s stock valued at $11,751,000 after purchasing an additional 34,081 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Customers Bancorp in the 2nd quarter worth approximately $418,000. Finally, First Eagle Investment Management LLC grew its position in shares of Customers Bancorp by 15.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock worth $5,857,000 after buying an additional 13,600 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 128,185 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares in the company, valued at $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was 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 owned 50,849 shares in the company, valued at approximately $3,307,218.96. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,564 shares of company stock valued at $9,612,479 over the last 90 days. Corporate insiders own 6.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBI has been the topic of several recent analyst reports. Stephens cut shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target on the stock. in a report on Friday, February 6th. Hovde Group raised their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of Customers Bancorp in a report on Tuesday, January 6th. DA Davidson raised 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. Finally, B. Riley Financial restated a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.80.

Customers Bancorp Price Performance

CUBI stock opened at $72.64 on Tuesday. The firm has a 50 day moving average price of $75.93 and a 200-day moving average price of $70.02. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $82.56. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.72 and a beta of 1.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last posted 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. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.The company had revenue of $236.90 million for the quarter, compared to the consensus estimate of $200.38 million. During the same quarter in the prior year, the business posted $1.36 EPS. Equities research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

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

About Customers Bancorp

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.