AlphaQuest LLC Acquires 7,413 Shares of Customers Bancorp, Inc $CUBI

Key Points

• AlphaQuest LLC has increased its holdings in Customers Bancorp, Inc by 53.1%, owning a total of 21,379 shares valued at $1,073,000 after acquiring an additional 7,413 shares in the first quarter.
• Multiple institutional investors have also adjusted their positions in Customers Bancorp, with 89.29% of the stock now owned by such investors, reflecting growing interest in the bank's stock.
• Customers Bancorp reported earnings of $1.80 per share, surpassing estimates and demonstrating a revenue increase of 3.8% year-over-year, with a forecast EPS of 6.45 for the current year.

AlphaQuest LLC lifted its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 53.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,379 shares of the bank's stock after buying an additional 7,413 shares during the quarter. AlphaQuest LLC owned about 0.07% of Customers Bancorp worth $1,073,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of Customers Bancorp by 3.8% in the first quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after buying an additional 270 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Customers Bancorp by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after buying an additional 403 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Customers Bancorp by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank's stock valued at $820,000 after buying an additional 645 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Customers Bancorp in the fourth quarter valued at about $46,000. Finally, Twinbeech Capital LP lifted its holdings in Customers Bancorp by 1.4% during the 4th quarter. Twinbeech Capital LP now owns 75,363 shares of the bank's stock worth $3,669,000 after buying an additional 1,052 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

CUBI has been the topic of several research reports. Wall Street Zen raised Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Stephens upped their price objective on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price objective 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. DA Davidson lifted their price objective 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, B. Riley lifted their price objective on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.25.

Customers Bancorp Stock Performance

CUBI stock opened at $68.7290 on Friday. The business's fifty day moving average is $62.04 and its 200-day moving average is $54.82. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a market cap of $2.17 billion, a P/E ratio of 17.01 and a beta of 1.59. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $69.42.

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