Customers Bancorp, Inc $CUBI Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC increased its holdings in Customers Bancorp by 185.4% during Q1, owning 94,549 shares valued at approximately $4.7 million.
• Customers Bancorp reported an EPS of $1.80 for the last quarter, exceeding analysts' expectations, with a revenue of $206.31 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Customers Bancorp, with an average price target of $69.25.

Algert Global LLC grew its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 185.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,549 shares of the bank's stock after purchasing an additional 61,422 shares during the quarter. Algert Global LLC owned approximately 0.30% of Customers Bancorp worth $4,746,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. boosted its position in Customers Bancorp by 95.2% during the first quarter. Raymond James Financial Inc. now owns 101,999 shares of the bank's stock worth $5,120,000 after acquiring an additional 49,755 shares during the last quarter. American Century Companies Inc. lifted its stake in Customers Bancorp by 7.3% in the 1st quarter. American Century Companies Inc. now owns 830,023 shares of the bank's stock worth $41,667,000 after purchasing an additional 56,251 shares in the last quarter. Fox Run Management L.L.C. boosted its holdings in shares of Customers Bancorp by 99.5% during the 1st quarter. Fox Run Management L.L.C. now owns 22,481 shares of the bank's stock worth $1,129,000 after purchasing an additional 11,215 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Customers Bancorp in the first quarter valued at approximately $208,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Customers Bancorp by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank's stock valued at $4,049,000 after purchasing an additional 3,958 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Trading Up 1.0%

NYSE CUBI opened at $66.54 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $2.10 billion, a P/E ratio of 16.47 and a beta of 1.59. The firm's 50-day moving average is $60.88 and its two-hundred day moving average is $54.54. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $67.19.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $206.31 million for the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 EPS. On average, sell-side analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Stephens boosted their price objective on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. DA Davidson lifted their price target on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a report on Monday, July 28th. B. Riley lifted their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and an average price target of $69.25.

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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