Walleye Capital LLC Invests $1.98 Million in Customers Bancorp, Inc $CUBI

Walleye Capital LLC bought a new stake in Customers Bancorp, Inc (NYSE:CUBI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,507 shares of the bank’s stock, valued at approximately $1,979,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CUBI. Cetera Investment Advisers grew its position in Customers Bancorp by 32.6% during the 1st quarter. Cetera Investment Advisers now owns 4,071 shares of the bank’s stock worth $283,000 after purchasing an additional 1,001 shares during the last quarter. Militia Capital Management LLC acquired a new position in Customers Bancorp in the first quarter valued at $865,000. Summit Global Investments raised its holdings in shares of Customers Bancorp by 93.5% in the first quarter. Summit Global Investments now owns 15,335 shares of the bank’s stock valued at $1,064,000 after buying an additional 7,408 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Customers Bancorp by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock valued at $134,859,000 after buying an additional 65,954 shares during the last quarter. Finally, Arcus Capital Partners LLC boosted its stake in shares of Customers Bancorp by 18.3% during the first quarter. Arcus Capital Partners LLC now owns 9,377 shares of the bank’s stock worth $651,000 after buying an additional 1,450 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 60,315 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the transaction, the chairman directly owned 767,557 shares in the company, valued at approximately $58,510,870.11. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Philip Watkins sold 3,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the completion of the transaction, the executive vice president directly owned 43,993 shares of the company’s stock, valued at approximately $3,328,950.31. This trade represents a 6.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. DA Davidson upped their price objective on Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. increased their price objective on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Piper Sandler lifted their target price on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Hovde Group boosted their target price on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.62.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $76.00 on Friday. The firm has a market capitalization of $2.57 billion, a P/E ratio of 9.64 and a beta of 1.48. Customers Bancorp, Inc has a one year low of $59.34 and a one year high of $82.56. The company’s fifty day moving average is $76.31 and its two-hundred day moving average is $74.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The business had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same quarter last year, the firm posted $1.80 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts forecast that Customers Bancorp, Inc will post 8.35 EPS for the current fiscal year.

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.