Customers Bancorp, Inc $CUBI Shares Acquired by Militia Capital Partners LP

Key Points

• Militia Capital Partners LP significantly increased its stake in Customers Bancorp by 255.6%, now owning approximately $803,000 worth of shares.
• Equities research analysts have raised their price targets for Customers Bancorp, with new target prices ranging from $62.00 to $85.00.
• The bank reported a 12-month high of $72.51 and a net margin of 10.77% for the recently concluded quarter, with earnings per share beating estimates by $0.30.

Militia Capital Partners LP grew its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 255.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,000 shares of the bank's stock after purchasing an additional 11,500 shares during the quarter. Militia Capital Partners LP owned approximately 0.05% of Customers Bancorp worth $803,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CUBI. Wellington Management Group LLP boosted its stake in Customers Bancorp by 34.3% in the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock valued at $177,349,000 after acquiring an additional 902,406 shares during the period. Nuveen LLC acquired a new stake in shares of Customers Bancorp in the first quarter valued at approximately $26,652,000. Millennium Management LLC increased its stake in shares of Customers Bancorp by 71.4% in the first quarter. Millennium Management LLC now owns 274,730 shares of the bank's stock valued at $13,791,000 after purchasing an additional 114,430 shares during the period. Shellback Capital LP acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at approximately $5,257,000. Finally, SG Americas Securities LLC increased its stake in shares of Customers Bancorp by 1,866.5% in the first quarter. SG Americas Securities LLC now owns 109,713 shares of the bank's stock valued at $5,508,000 after purchasing an additional 104,134 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Customers Bancorp from $71.00 to $76.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Stephens upped their target price on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. B. Riley upped their target price on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, DA Davidson lifted their price target on shares of Customers Bancorp from $69.00 to $78.00 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 assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.88.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $68.22 on Friday. The company's fifty day moving average is $65.75 and its two-hundred day moving average is $56.13. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $72.51. The company has a market cap of $2.16 billion, a P/E ratio of 16.89 and a beta of 1.62.

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

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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