Customers Bancorp, Inc $CUBI Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 41.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,971 shares of the bank's stock after purchasing an additional 74,413 shares during the period. Sei Investments Co. owned 0.75% of Customers Bancorp worth $17,698,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in Customers Bancorp by 5.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 421,852 shares of the bank's stock valued at $31,428,000 after buying an additional 23,129 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank's stock worth $16,279,000 after acquiring an additional 222,546 shares during the period. Tudor Investment Corp ET AL boosted its position in shares of Customers Bancorp by 247.1% in the third quarter. Tudor Investment Corp ET AL now owns 90,102 shares of the bank's stock worth $5,890,000 after acquiring an additional 64,141 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Customers Bancorp by 213.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank's stock worth $4,864,000 after acquiring an additional 45,299 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Customers Bancorp in the fourth quarter worth approximately $1,534,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on CUBI. Fundamental Research set a $94.00 price target on shares of Customers Bancorp in a research report on Wednesday, July 1st. Piper Sandler lifted their price target on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Hovde Group boosted their price objective on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. Weiss Ratings restated a "buy (b)" rating on shares of Customers Bancorp in a report on Monday, June 29th. Finally, Morgan Stanley increased their target price on Customers Bancorp from $83.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. One investment 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.15.

Customers Bancorp Trading Down 1.5%

NYSE CUBI opened at $78.42 on Thursday. Customers Bancorp, Inc has a one year low of $59.34 and a one year high of $82.56. The company's 50 day moving average price is $76.71 and its 200 day moving average price is $74.52. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 9.56 and a beta of 1.48.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The company had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same period in the previous year, the firm earned $1.80 earnings per share. Customers Bancorp's revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Customers Bancorp, Inc will post 8.36 EPS for the current year.

Insider Activity at Customers Bancorp

In related news, CEO Samvir S. Sidhu acquired 1,000 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the transaction, the chief executive officer directly owned 521,714 shares of the company's stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Philip Watkins sold 3,000 shares of the firm's 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 in the company, valued at $3,328,950.31. This trade represents a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.45% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.