4,151 Shares in Customers Bancorp, Inc (NYSE:CUBI) Purchased by Ground Swell Capital LLC

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 purchased a new position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,151 shares of the bank's stock, valued at approximately $208,000.

A number of other large investors also recently bought and sold shares of CUBI. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $46,000. GAMMA Investing LLC raised its holdings in shares of Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after acquiring an additional 403 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after acquiring an additional 254 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $202,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

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

Customers Bancorp Trading Up 0.8%

Shares of Customers Bancorp stock opened at $65.96 on Thursday. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 16.33 and a beta of 1.59. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $67.19. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average of $60.02 and a 200 day moving average of $54.39.

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

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