7,541 Shares in Customers Bancorp, Inc $CUBI Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new stake in Customers Bancorp, Inc (NYSE:CUBI) in the 1st quarter, Holdings Channel reports. The institutional investor bought 7,541 shares of the bank’s stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUBI. Lido Advisors LLC boosted its stake in shares of Customers Bancorp by 3.0% during the 4th quarter. Lido Advisors LLC now owns 6,135 shares of the bank’s stock worth $412,000 after purchasing an additional 178 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Customers Bancorp by 0.5% during the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock worth $2,226,000 after buying an additional 182 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Customers Bancorp by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank’s stock valued at $1,289,000 after buying an additional 230 shares during the last quarter. Arax Advisory Partners raised its position 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 buying an additional 243 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Customers Bancorp by 3.0% during the fourth quarter. Arizona State Retirement System now owns 9,146 shares of the bank’s stock valued at $669,000 after buying an additional 267 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CUBI. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Fundamental Research set a $94.00 price target on Customers Bancorp in a report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price target on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. DA Davidson raised their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Hovde Group lifted their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.15.

Customers Bancorp Trading Up 0.5%

Shares of CUBI stock opened at $78.61 on Friday. The firm’s 50-day simple moving average is $76.83 and its 200-day simple moving average is $74.55. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. Customers Bancorp, Inc has a 1-year low of $59.34 and a 1-year high of $82.56. The firm has a market cap of $2.66 billion, a P/E ratio of 9.59 and a beta of 1.48.

Customers Bancorp (NYSE:CUBI) last released its 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 19.07% and a return on equity of 13.80%. The firm had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same period in the previous year, the firm earned $1.80 earnings per share. Customers Bancorp’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Customers Bancorp, Inc will post 8.38 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the acquisition, the chief executive officer directly owned 521,714 shares in the company, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Jay S. Sidhu sold 60,315 shares of the company’s stock in a transaction on 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 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. Insiders have sold a total of 94,494 shares of company stock worth $7,294,032 in the last quarter. 10.45% of the stock is owned by insiders.

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.