Allspring Global Investments Holdings LLC Purchases 23,129 Shares of Customers Bancorp, Inc $CUBI

Key Points

• Allspring Global Investments raised its stake in Customers Bancorp by 23,129 shares to 421,852 shares (about 1.23%) valued at roughly $31.43 million, while institutional investors now own 89.29% of the company and other large buys were reported from Millennium, Balyasny, Anatole and Emerald.
• Customers Bancorp beat Q4 estimates with EPS of $2.06 (vs. $2.04) and revenue of $236.9M, and its board has authorized a $100 million stock repurchase program (up to 4% of outstanding shares).
• Analysts have a consensus rating of “Moderate Buy” with a $86.42 target (1 Strong Buy, 6 Buy, 5 Hold), and the stock trades around $70.44 with a 12‑month range of $40.75–$82.56.

Allspring Global Investments Holdings LLC raised its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,852 shares of the bank's stock after acquiring an additional 23,129 shares during the period. Allspring Global Investments Holdings LLC owned about 1.23% of Customers Bancorp worth $31,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Anatole Investment Management Ltd bought a new stake in Customers Bancorp during the 2nd quarter worth approximately $17,593,000. Millennium Management LLC lifted its stake in Customers Bancorp by 448.8% in the third quarter. Millennium Management LLC now owns 327,784 shares of the bank's stock valued at $21,427,000 after buying an additional 268,056 shares in the last quarter. Emerald Advisers LLC bought a new position in Customers Bancorp in the third quarter valued at approximately $15,150,000. Balyasny Asset Management L.P. boosted its holdings in shares of Customers Bancorp by 3,173.3% in the third quarter. Balyasny Asset Management L.P. now owns 158,429 shares of the bank's stock valued at $10,357,000 after buying an additional 153,589 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Customers Bancorp in the third quarter valued at approximately $9,481,000. Institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CUBI shares. Maxim Group set a $100.00 price objective on shares of Customers Bancorp in a report on Monday, January 26th. JPMorgan Chase & Co. lowered their target price on Customers Bancorp from $90.00 to $84.00 and set an "overweight" rating for the company in a report on Wednesday. TD Cowen reissued a "buy" rating on shares of Customers Bancorp in a research note on Monday, January 26th. Morgan Stanley cut their price target on Customers Bancorp from $92.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, Zacks Research cut Customers Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.42.

Customers Bancorp Stock Performance

Shares of CUBI opened at $70.44 on Friday. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 11.36 and a beta of 1.57. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $82.56. The firm has a fifty day simple moving average of $71.15 and a 200 day simple moving average of $70.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The firm had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. During the same period in the previous year, the business earned $1.36 EPS. Research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp announced that its board has initiated a stock repurchase program on Wednesday, February 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Customers Bancorp Company 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.

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