Ground Swell Capital LLC Invests $208,000 in Customers Bancorp, Inc $CUBI

Key Points

• Ground Swell Capital LLC purchased 4,151 shares of Customers Bancorp, Inc, valued at approximately $208,000, marking a significant new investment in the bank.
• Customers Bancorp has received multiple rating upgrades, with analysts increasing target prices, reflecting a generally positive outlook on the bank's performance.
• The company's recent quarterly earnings exceeded estimates, reporting $1.80 earnings per share and revenues of $206.31 million, up 3.8% from the same period last year.

Ground Swell Capital LLC bought a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 4,151 shares of the bank's stock, valued at approximately $208,000.

Other hedge funds have also modified their holdings of the company. Summit Investment Advisors Inc. grew its stake in Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after purchasing an additional 254 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Customers Bancorp by 3.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after purchasing an additional 270 shares in the last quarter. GAMMA Investing LLC grew its stake in Customers Bancorp by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after purchasing an additional 403 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Customers Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank's stock valued at $820,000 after purchasing an additional 645 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Customers Bancorp during the 4th quarter valued at approximately $46,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CUBI. B. Riley raised their price objective on Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Stephens lifted their target price on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. DA Davidson lifted their target price on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods lifted their target price on Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.25.

Customers Bancorp Stock Performance

CUBI traded up $0.66 during trading on Monday, reaching $66.54. 183,351 shares of the company were exchanged, compared to its average volume of 303,334. The stock has a market cap of $2.10 billion, a P/E ratio of 16.47 and a beta of 1.59. The firm has a 50 day moving average of $60.61 and a 200 day moving average of $54.47. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $67.19.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $206.31 million during the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.49 EPS. On average, sell-side analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.