Empowered Funds LLC Has $10.66 Million Stake in Customers Bancorp, Inc $CUBI

Empowered Funds LLC grew its position in Customers Bancorp, Inc (NYSE:CUBI) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,602 shares of the bank’s stock after acquiring an additional 7,121 shares during the period. Empowered Funds LLC owned 0.45% of Customers Bancorp worth $10,662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Arax Advisory Partners grew its position in Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after acquiring an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Customers Bancorp in the 3rd quarter valued at $29,000. Bessemer Group Inc. raised its position in Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after purchasing an additional 232 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in Customers Bancorp by 216.0% in the fourth 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. Finally, Jones Financial Companies Lllp acquired a new position in Customers Bancorp in the first quarter worth $37,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Customers Bancorp

In other news, CEO Samvir S. Sidhu purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares in the company, valued at approximately $37,866,002.12. The trade was a 0.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total value of $4,597,812.45. Following the completion of the sale, the chairman owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.45% of the stock is owned by company insiders.

Customers Bancorp Stock Down 0.5%

NYSE:CUBI opened at $78.30 on Friday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 9.55 and a beta of 1.48. 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 stock’s fifty day moving average price is $76.76 and its two-hundred day moving average price is $74.52. Customers Bancorp, Inc has a 52-week low of $59.34 and a 52-week high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. The company 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 for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $1.80 EPS. On average, analysts anticipate that Customers Bancorp, Inc will post 8.38 EPS for the current year.

Wall Street Analysts Forecast Growth

CUBI has been the subject of a number of research reports. Piper Sandler raised 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. DA Davidson upped their price target on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Hovde Group increased their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $90.15.

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.