Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Customers Bancorp, Inc $CUBI

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 11,115 shares of Customers Bancorp (CUBI), valued at approximately $558,000, during the first quarter.
• Wall Street analysts have increased their price targets for Customers Bancorp, with DA Davidson raising it to $78.00 and B. Riley to $85.00, indicating strong growth expectations.
• Customers Bancorp reported earnings of $1.80 per share for the last quarter, exceeding expectations and marking a year-over-year revenue increase of 3.8%.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,115 shares of the bank's stock, valued at approximately $558,000.

A number of other institutional investors have also modified their holdings of CUBI. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at $46,000. GAMMA Investing LLC grew its stake 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 in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Customers Bancorp by 8.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at $202,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at $205,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Stock Performance

Shares of CUBI traded down $0.1770 during midday trading on Wednesday, reaching $65.8230. 207,781 shares of the stock were exchanged, compared to its average volume of 348,952. The business's 50-day moving average price is $61.40 and its 200 day moving average price is $54.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $67.34. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.29 and a beta of 1.59.

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

Analyst Ratings Changes

CUBI has been the subject of a number of research reports. Wall Street Zen raised Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Stephens lifted their target price on Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted 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 lifted their target price on Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, B. Riley lifted their price target on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, July 28th. 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. According to MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and an average price target of $69.25.

Customers Bancorp Company 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.