Jackson Creek Investment Advisors LLC Purchases New Position in Customers Bancorp, Inc $CUBI

Jackson Creek Investment Advisors LLC purchased a new stake in Customers Bancorp, Inc (NYSE:CUBI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 26,036 shares of the bank’s stock, valued at approximately $1,904,000.

A number of other institutional investors have also recently made changes to their positions in CUBI. Royal Bank of Canada lifted its holdings in shares of Customers Bancorp by 11.5% in the 1st quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after acquiring an additional 553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Customers Bancorp by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock valued at $885,000 after acquiring an additional 786 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of 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. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp in the 1st quarter valued at about $37,000. Finally, Creative Planning bought a new position in shares of Customers Bancorp in the 2nd quarter valued at about $250,000. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CUBI shares. Stephens raised shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target for the company in a report on Monday, March 16th. Hovde Group raised their price objective on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. DA Davidson raised their price objective on shares of Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $86.00 price objective (up from $82.00) on shares of Customers Bancorp in a research note on Monday, April 27th. 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, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI opened at $77.00 on Wednesday. The firm has a market cap of $2.60 billion, a PE ratio of 9.77 and a beta of 1.52. The firm’s 50 day simple moving average is $73.18 and its 200-day simple moving average is $72.78. Customers Bancorp, Inc has a one year low of $49.54 and a one year high of $82.56. 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 issued its earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.09. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The company’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same period last year, the company posted $1.54 earnings per share. As a group, equities analysts predict that Customers Bancorp, Inc will post 8.52 EPS for the current year.

Customers Bancorp declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares in the company, valued at $37,866,002.12. This represents a 0.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Philip Watkins sold 3,000 shares of Customers Bancorp stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the transaction, the executive vice president directly owned 43,993 shares in the company, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.45% of the company’s stock.

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.