Algert Global LLC Grows Position in Customers Bancorp, Inc $CUBI

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 boosted its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 185.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,549 shares of the bank's stock after acquiring an additional 61,422 shares during the period. Algert Global LLC owned about 0.30% of Customers Bancorp worth $4,746,000 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 business. Raymond James Financial Inc. raised 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. raised its position in Customers Bancorp by 7.3% during the first quarter. American Century Companies Inc. now owns 830,023 shares of the bank's stock worth $41,667,000 after acquiring an additional 56,251 shares during the last quarter. Fox Run Management L.L.C. raised its position in Customers Bancorp by 99.5% during the first quarter. Fox Run Management L.L.C. now owns 22,481 shares of the bank's stock worth $1,129,000 after acquiring an additional 11,215 shares during the last quarter. Ground Swell Capital LLC acquired a new position in Customers Bancorp during the first quarter worth about $208,000. Finally, Russell Investments Group Ltd. raised its position in Customers Bancorp by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank's stock worth $4,049,000 after acquiring an additional 3,958 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CUBI. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. 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 report on Monday, July 28th. Stephens lifted their price target on shares of Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. DA Davidson lifted their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. One investment 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $69.25.

Customers Bancorp Trading Up 5.0%

Customers Bancorp stock traded up $3.2790 during trading on Friday, reaching $68.7290. The company had a trading volume of 413,174 shares, compared to its average volume of 316,916. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $69.42. The stock's 50 day moving average price is $62.04 and its two-hundred day moving average price is $54.79. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.01 and a beta of 1.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released 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. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The firm had revenue of $206.31 million during the quarter, compared to the consensus estimate of $170.81 million. During the same period in the previous year, the firm earned $1.49 earnings per share. Customers Bancorp's revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp 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.