4,970 Shares in Customers Bancorp, Inc $CUBI Purchased by Haverford Trust Co

Key Points

• Haverford Trust Co acquired 4,970 shares of Customers Bancorp, valued at approximately $249,000, during the 1st quarter, indicating growing institutional interest in the company.
• Multiple investment firms, including Wellington Management and American Century Companies, have increased their positions in Customers Bancorp, with 89.29% of the stock currently owned by institutional investors.
• Analysts have recently raised their target prices for Customers Bancorp stock, with average targets ranging from $69.25 to $85.00, reflecting a generally positive outlook for the company's performance in the market.

Haverford Trust Co acquired a new position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 4,970 shares of the bank's stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Customers Bancorp by 34.3% in the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock worth $177,349,000 after buying an additional 902,406 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Customers Bancorp by 7.3% in the 1st quarter. American Century Companies Inc. now owns 830,023 shares of the bank's stock worth $41,667,000 after buying an additional 56,251 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Customers Bancorp in the 1st quarter worth about $26,652,000. Northern Trust Corp boosted its position in shares of Customers Bancorp by 19.1% in the 4th quarter. Northern Trust Corp now owns 381,684 shares of the bank's stock worth $18,580,000 after buying an additional 61,224 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Customers Bancorp by 11.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 317,584 shares of the bank's stock worth $16,127,000 after buying an additional 32,216 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CUBI shares. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley boosted their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 28th. DA Davidson boosted their target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Stephens boosted their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Customers Bancorp presently has an average rating of "Moderate Buy" and an average price target of $69.25.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $68.7290 on Monday. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $69.42. The firm has a 50 day moving average price of $62.04 and a 200 day moving average price of $54.79. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 17.01 and a beta of 1.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The firm had revenue of $206.31 million during the quarter, compared to the consensus estimate of $170.81 million. During the same period in the previous year, the firm earned $1.49 earnings per share. Customers Bancorp's revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Customers Bancorp Profile

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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