Customers Bancorp, Inc $CUBI Shares Bought by Sei Investments Co.

Sei Investments Co. grew its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 41.2% during the first quarter, HoldingsChannel reports. The firm owned 254,971 shares of the bank’s stock after buying an additional 74,413 shares during the period. Sei Investments Co.’s holdings in Customers Bancorp were worth $17,698,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. 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 valued at $26,000 after purchasing an additional 243 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp during the 3rd quarter valued at $29,000. Bessemer Group Inc. increased its stake in Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after buying an additional 232 shares during the period. Jones Financial Companies Lllp purchased a new stake in Customers Bancorp during the 1st quarter worth $37,000. Finally, Transamerica Financial Advisors LLC lifted its holdings 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 buying an additional 404 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Samvir S. Sidhu acquired 1,000 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the purchase, the chief executive officer directly owned 521,714 shares of the company’s stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.45% of the company’s stock.

Customers Bancorp Stock Down 1.5%

NYSE:CUBI opened at $78.42 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 9.56 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 stock has a 50-day simple moving average of $76.71 and a 200 day simple moving average of $74.52.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm had revenue of $227.28 million for the quarter, compared to analysts’ expectations of $229.24 million. During the same quarter in the prior year, the firm posted $1.80 earnings per share. Customers Bancorp’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Customers Bancorp, Inc will post 8.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CUBI shares. JPMorgan Chase & Co. raised their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Hovde Group increased their price target on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Fundamental Research set a $94.00 price objective on Customers Bancorp in a research note on Wednesday, July 1st. Finally, DA Davidson lifted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.15.

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.