Militia Capital Partners LP Increases Position in Customers Bancorp, Inc $CUBI

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 lifted its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 255.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,000 shares of the bank's stock after buying an additional 11,500 shares during the quarter. Militia Capital Partners LP owned approximately 0.05% of Customers Bancorp worth $803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its position in Customers Bancorp by 20.3% during the first quarter. Intech Investment Management LLC now owns 67,262 shares of the bank's stock valued at $3,377,000 after purchasing an additional 11,346 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp in the 1st quarter valued at about $37,000. Shellback Capital LP grew its position in Customers Bancorp by 20.8% in the first quarter. Shellback Capital LP now owns 130,423 shares of the bank's stock worth $6,547,000 after acquiring an additional 22,423 shares in the last quarter. Millennium Management LLC increased its stake in Customers Bancorp by 71.4% during the first quarter. Millennium Management LLC now owns 274,730 shares of the bank's stock worth $13,791,000 after acquiring an additional 114,430 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Customers Bancorp by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank's stock worth $885,000 after acquiring an additional 786 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson increased their target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, July 28th. B. Riley increased their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Stephens increased their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Customers Bancorp has an average rating of "Moderate Buy" and an average target price of $69.88.

Customers Bancorp Stock Performance

Shares of NYSE CUBI traded up $0.97 during midday trading on Wednesday, reaching $67.42. The company had a trading volume of 153,071 shares, compared to its average volume of 311,965. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $72.51. The business's 50-day simple moving average is $65.88 and its 200 day simple moving average is $56.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.13 billion, a P/E ratio of 16.72 and a beta of 1.62.

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, beating analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $206.31 million during the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 earnings per share. On average, analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

About Customers Bancorp

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.