Customers Bancorp, Inc $CUBI Shares Acquired by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust increased its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 242,313 shares of the bank’s stock after purchasing an additional 29,956 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Customers Bancorp were worth $16,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CUBI. Price T Rowe Associates Inc. MD increased its stake in Customers Bancorp by 3,074.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock valued at $63,732,000 after purchasing an additional 844,141 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Customers Bancorp by 213.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock worth $54,056,000 after buying an additional 529,987 shares during the last quarter. Anatole Investment Management Ltd acquired a new position in shares of Customers Bancorp in the 2nd quarter valued at $17,593,000. Millennium Management LLC boosted its holdings in shares of Customers Bancorp by 448.8% in the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock valued at $21,427,000 after buying an additional 268,056 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Customers Bancorp by 247,273.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after buying an additional 222,546 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CUBI. DA Davidson lifted their price target 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. Hovde Group upped their price objective on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Fundamental Research set a $94.00 target price on Customers Bancorp in a research report on Wednesday, July 1st. Finally, Morgan Stanley boosted their target price on Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and an average target price of $89.62.

Customers Bancorp Stock Down 0.7%

CUBI stock opened at $76.11 on Tuesday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 9.66 and a beta of 1.48. The company has a fifty day moving average price of $76.07 and a 200 day moving average price of $74.37. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $82.56.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.09. The company had revenue of $225.40 million for the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. Customers Bancorp’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. Sell-side analysts expect that Customers Bancorp, Inc will post 8.35 earnings per share for the current year.

Insider Transactions at Customers Bancorp

In related news, EVP Philip Watkins sold 3,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $75.67, for a total value of $227,010.00. Following the transaction, the executive vice president owned 43,993 shares in the company, valued at $3,328,950.31. The trade was a 6.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total value of $4,597,812.45. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 10.45% of the company’s stock.

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.