Customers Bancorp, Inc $CUBI Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its holdings in Customers Bancorp, Inc by 16.4% during the 2nd quarter, owning approximately 1.17% of the company, valued at about $22.97 million.
• Customers Bancorp has shown a significant price performance with a 1-year low of $40.75 and a high of $72.51, currently trading around $60.45.
• The stock received multiple upgrades from analysts with an average rating of "Moderate Buy" and a consensus target price of $76.88 amidst strong quarterly earnings results.

Allspring Global Investments Holdings LLC grew its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,795 shares of the bank's stock after acquiring an additional 52,211 shares during the period. Allspring Global Investments Holdings LLC owned about 1.17% of Customers Bancorp worth $22,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp in the first quarter worth $37,000. 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 worth $95,000 after acquiring an additional 403 shares in the last quarter. Ground Swell Capital LLC acquired a new position in shares of Customers Bancorp in the first quarter worth $208,000. Teacher Retirement System of Texas acquired a new position in shares of Customers Bancorp in the first quarter worth $219,000. Finally, EP Wealth Advisors LLC grew its stake in shares of Customers Bancorp by 5.3% in the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank's stock worth $222,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Price Performance

Shares of CUBI opened at $60.45 on Friday. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $72.51. The stock has a market cap of $1.91 billion, a PE ratio of 14.96 and a beta of 1.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a fifty day moving average price of $66.85 and a 200 day moving average price of $58.63.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The firm had revenue of $206.82 million during the quarter. As a group, sell-side analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Customers Bancorp in a research note on Wednesday, October 8th. Stephens boosted their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. B. Riley boosted their target price on shares of Customers Bancorp from $85.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Finally, TD Cowen initiated coverage on shares of Customers Bancorp in a research note on Thursday, September 25th. They set a "buy" rating and a $89.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Customers Bancorp has an average rating of "Moderate Buy" and a consensus target price of $76.88.

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.

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