Inceptionr LLC Invests $649,000 in Customers Bancorp, Inc $CUBI

Inceptionr LLC purchased a new stake in Customers Bancorp, Inc (NYSE:CUBI) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 9,351 shares of the bank’s stock, valued at approximately $649,000.

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

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu acquired 1,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the transaction, the chief executive officer 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Jay S. Sidhu sold 60,315 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman owned 767,557 shares of the company’s stock, valued at $58,510,870.11. This represents a 7.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 10.45% of the company’s stock.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $76.50 on Friday. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 9.33 and a beta of 1.48. The company has a fifty day moving average of $76.40 and a 200-day moving average of $74.52. Customers Bancorp, Inc has a 52-week low of $59.34 and a 52-week 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 posted its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.98%. The business 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 posted $1.80 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts expect that Customers Bancorp, Inc will post 8.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Piper Sandler boosted their target price on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. boosted their price target on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Hovde Group increased their price target 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. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Finally, Fundamental Research set a $94.00 price objective on shares of Customers Bancorp in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.62.

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.