Customers Bancorp, Inc $CUBI Shares Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. dramatically increased its stake in Customers Bancorp, buying 222,546 additional shares in the fourth quarter and bringing its total holding to 222,636 shares worth about $16.3 million.
• Customers Bancorp reported strong quarterly results, with EPS of $1.97 and revenue of $225.4 million, both ahead of estimates. Revenue jumped 57.9% year over year, and the bank also authorized a $100 million share buyback.
• Insider activity was mixed: EVP Philip Watkins sold 3,000 shares, while CEO Samvir S. Sidhu bought 1,000 shares. Analysts currently rate the stock a Moderate Buy with an average price target of $87.50.

Northwestern Mutual Wealth Management Co. boosted its position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 247,273.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,636 shares of the bank's stock after purchasing an additional 222,546 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.65% of Customers Bancorp worth $16,279,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp during the 3rd quarter valued at $29,000. Jones Financial Companies Lllp acquired a new stake in Customers Bancorp during the 1st quarter valued at $37,000. Aster Capital Management DIFC Ltd grew its holdings in Customers Bancorp by 451.2% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank's stock valued at $61,000 after purchasing an additional 767 shares in the last quarter. KBC Group NV grew its holdings in Customers Bancorp by 59.7% during the 4th quarter. KBC Group NV now owns 1,595 shares of the bank's stock valued at $117,000 after purchasing an additional 596 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Customers Bancorp by 17.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank's stock valued at $115,000 after purchasing an additional 256 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Customers Bancorp

In other news, EVP Philip Watkins sold 3,000 shares of Customers Bancorp stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $75.67, for a total value of $227,010.00. Following the completion of the transaction, the executive vice president directly owned 43,993 shares of the company's stock, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Samvir S. Sidhu purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares in the company, valued at approximately $37,866,002.12. This trade represents a 0.19% increase in their position. The disclosure for this purchase is available in the SEC filing. 10.45% of the stock is owned by company insiders.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $75.24 on Thursday. The firm has a market cap of $2.55 billion, a P/E ratio of 9.55 and a beta of 1.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. Customers Bancorp, Inc has a 1-year low of $49.54 and a 1-year high of $82.56. The firm has a fifty day moving average of $72.41 and a two-hundred day moving average of $72.54.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.09. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The firm's revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period last year, the business earned $1.54 EPS. As a group, research analysts anticipate that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.

Customers Bancorp declared that its board has approved a stock buyback plan on Wednesday, February 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CUBI. Piper Sandler reaffirmed an "overweight" rating and set a $86.00 price target (up from $82.00) on shares of Customers Bancorp in a report on Monday, April 27th. Stephens raised shares of Customers Bancorp from an "underweight" rating to an "equal weight" rating and set a $71.00 price target for the company in a report on Monday, March 16th. Maxim Group set a $100.00 price objective on shares of Customers Bancorp in a report on Monday, January 26th. Wall Street Zen lowered shares of Customers Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, January 25th. Finally, Morgan Stanley decreased their price objective on shares of Customers Bancorp from $92.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.50.

Customers Bancorp 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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