BlackRock Inc. Makes New Investment in Customers Bancorp, Inc $CUBI

Key Points

• BlackRock initiated a major position in Customers Bancorp, purchasing 4.87 million shares worth approximately $385.2 million and acquiring a 14.39% stake. Institutional investors and hedge funds collectively own 89.29% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $90.69. Recent targets range from $86 to $100, including upgrades from JPMorgan, DA Davidson and Piper Sandler.
• Customers Bancorp reported quarterly EPS of $2.05, exceeding estimates of $2.00, while revenue rose 10.2% year over year to $227.28 million. The stock opened at $78.56, near its 50-day average, while Chairman Jay S. Sidhu recently sold about $5.5 million in shares.

BlackRock Inc. bought a new position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,869,339 shares of the bank's stock, valued at approximately $385,165,000. BlackRock Inc. owned 14.39% of Customers Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Arax Advisory Partners boosted its holdings in shares of Customers Bancorp by 218.9% in the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank's stock valued at $26,000 after buying an additional 243 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp during the third quarter worth about $29,000. Bessemer Group Inc. lifted its holdings in Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank's stock worth $37,000 after acquiring an additional 232 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Customers Bancorp in the first quarter worth about $37,000. Finally, Transamerica Financial Advisors LLC lifted its holdings in Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank's stock worth $43,000 after acquiring an additional 404 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CUBI. JPMorgan Chase & Co. upped their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Fundamental Research set a $94.00 price target on Customers Bancorp in a report on Wednesday, July 1st. Hovde Group raised their price target on Customers Bancorp from $80.00 to $86.00 and gave the stock a "market perform" rating in a report on Tuesday, April 28th. DA Davidson boosted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Piper Sandler upped their price objective on Customers Bancorp from $86.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.69.

Insider Transactions at Customers Bancorp

In other news, Chairman Jay S. Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the transaction, the chairman directly owned 667,757 shares in the company, valued at approximately $53,480,658.13. This trade represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 100,000 shares of company stock worth $7,981,084. Company insiders own 10.45% of the company's stock.

Customers Bancorp Stock Down 0.5%

CUBI stock opened at $78.56 on Wednesday. The firm's 50-day moving average is $78.88 and its two-hundred day moving average is $74.94. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 9.58 and a beta of 1.49. Customers Bancorp, Inc has a 52 week low of $59.34 and a 52 week high of $84.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The business had revenue of $227.28 million during the quarter, compared to analysts' expectations of $229.24 million. During the same period last year, the firm posted $1.80 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. On average, analysts forecast that Customers Bancorp, Inc will post 8.43 earnings per share for the current fiscal year.

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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