Versor Investments LP Takes Position in Customers Bancorp, Inc $CUBI

Versor Investments LP purchased a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,400 shares of the bank’s stock, valued at approximately $941,000.

Other hedge funds also recently added to or reduced their stakes in the company. Anatole Investment Management Ltd purchased a new position in shares of Customers Bancorp during the second quarter valued at approximately $17,593,000. Emerald Advisers LLC purchased a new position in Customers Bancorp during the 3rd quarter valued at $15,150,000. Emerald Mutual Fund Advisers Trust purchased a new position in Customers Bancorp during the 3rd quarter valued at $9,481,000. Millennium Management LLC grew its position in Customers Bancorp by 71.4% in the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock valued at $13,791,000 after acquiring an additional 114,430 shares during the last quarter. Finally, Access Investment Management LLC purchased a new stake in Customers Bancorp in the second quarter worth $6,721,000. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Price Performance

CUBI opened at $73.22 on Wednesday. The firm has a market capitalization of $2.50 billion, a PE ratio of 11.81 and a beta of 1.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50-day moving average is $75.84 and its two-hundred day moving average is $69.83. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $82.56.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. The firm had revenue of $236.90 million during the quarter, compared to analyst estimates 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 previous year, the business posted $1.36 EPS. Research analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

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 completion of the sale, the chief executive officer owned 790,031 shares of the company’s stock, valued at approximately $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 can be accessed 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 shares were sold at an average price of $65.04, for a total transaction of $188,616.00. Following the transaction, the executive vice president owned 50,849 shares in the company, valued at approximately $3,307,218.96. This trade represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 138,564 shares of company stock valued at $9,612,479 in the last three months. Insiders own 6.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CUBI. Hovde Group upped their price target 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. Stephens downgraded shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a research note on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. B. Riley Financial restated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Finally, Morgan Stanley assumed coverage on Customers Bancorp in a report on Monday, December 8th. They issued an “equal weight” rating and a $90.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

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.