Customers Bancorp, Inc $CUBI Shares Bought by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL boosted its stake in Customers Bancorp by 247.1% in Q3, adding 64,141 shares to hold 90,102 shares valued at about $5.89 million (roughly 0.26% of the company).
• Customers Bancorp beat quarterly expectations with EPS of $2.06 (vs. $2.04 est.) and revenue of $236.9M, showing a net margin of 15.15% and a return on equity of 14.05%.
• Management authorized a $100 million share repurchase program (about 4% of outstanding shares), and analysts maintain a consensus Moderate Buy rating with an average price target of $87.67.

Tudor Investment Corp ET AL lifted its position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 247.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 90,102 shares of the bank's stock after acquiring an additional 64,141 shares during the period. Tudor Investment Corp ET AL owned 0.26% of Customers Bancorp worth $5,890,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CUBI. Caitong International Asset Management Co. Ltd bought a new position in Customers Bancorp in the 3rd quarter worth about $29,000. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp during the first quarter worth approximately $37,000. Farther Finance Advisors LLC grew its holdings in Customers Bancorp by 63.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank's stock worth $44,000 after buying an additional 260 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank's stock valued at $61,000 after acquiring an additional 767 shares during the period. Finally, CX Institutional bought a new stake in Customers Bancorp during the 3rd quarter valued at $67,000. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CUBI has been the subject of a number of analyst reports. JPMorgan Chase & Co. started coverage on Customers Bancorp in a research report on Friday, March 6th. They set an "overweight" rating and a $90.00 price target for the company. Morgan Stanley upped their price objective on shares of Customers Bancorp from $90.00 to $92.00 and gave the stock an "equal weight" rating in a report on Monday, March 2nd. DA Davidson increased their target price on shares of Customers Bancorp from $93.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Wall Street Zen cut shares of Customers Bancorp from a "buy" rating to a "hold" rating in a research note on Sunday, January 25th. Finally, Piper Sandler initiated coverage on shares of Customers Bancorp in a research note on Thursday, March 12th. They set an "overweight" rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.67.

Customers Bancorp Stock Up 1.0%

NYSE CUBI opened at $68.09 on Wednesday. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $82.56. The company has a market capitalization of $2.33 billion, a P/E ratio of 10.98 and a beta of 1.66. The company's 50 day simple moving average is $72.48 and its 200 day simple moving average is $70.35. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.02. The firm had revenue of $236.90 million during the quarter, compared to analysts' expectations of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period last year, the firm posted $1.36 earnings per share. Equities research analysts expect that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp declared that its Board of Directors has initiated a share buyback program on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

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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