21,402 Shares in Customers Bancorp, Inc $CUBI Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP acquired 21,402 shares of Customers Bancorp in the second quarter, valued at approximately $1.69 million. Hedge funds and other institutional investors collectively own 89.29% of the company.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $90.69, above the reported share price of $79.03.
• Customers Bancorp exceeded quarterly EPS expectations, reporting $2.05 versus the $2.00 consensus, while revenue rose 10.2% year over year. However, insiders sold 160,315 shares worth about $12.6 million over the past 90 days.

Quantbot Technologies LP bought a new stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,402 shares of the bank's stock, valued at approximately $1,693,000. Quantbot Technologies LP owned approximately 0.06% of Customers Bancorp as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Customers Bancorp by 247,273.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank's stock valued at $16,279,000 after acquiring an additional 222,546 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Customers Bancorp by 213.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank's stock valued at $4,864,000 after purchasing an additional 45,299 shares during the last quarter. Summit Global Investments acquired a new stake in Customers Bancorp in the 2nd quarter worth approximately $1,016,000. HighTower Advisors LLC acquired a new stake in Customers Bancorp in the 4th quarter worth approximately $1,534,000. Finally, Intech Investment Management LLC grew its position in Customers Bancorp by 255.1% during the 4th quarter. Intech Investment Management LLC now owns 120,617 shares of the bank's stock worth $8,820,000 after purchasing an additional 86,654 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CUBI. Keefe, Bruyette & Woods raised their price target on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Hovde Group boosted their price objective on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a "market perform" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price objective on shares of Customers Bancorp from $86.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. DA Davidson upped their target price on Customers Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Customers Bancorp in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $90.69.

Insider Activity

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the transaction, the chairman directly owned 667,757 shares in the company, valued at $53,480,658.13. The trade was a 9.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 160,315 shares of company stock valued at $12,578,896. Insiders own 10.45% of the company's stock.

Customers Bancorp Stock Down 0.9%

Shares of CUBI opened at $79.03 on Tuesday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 9.64 and a beta of 1.49. Customers Bancorp, Inc has a 52 week low of $59.34 and a 52 week high of $84.38. The stock's 50-day moving average price is $78.85 and its 200-day moving average price is $74.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company had revenue of $227.28 million during the quarter, compared to analysts' expectations of $229.24 million. During the same period last year, the business earned $1.80 earnings per share. Customers Bancorp's quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Customers Bancorp, Inc will post 8.43 EPS for the current year.

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.

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