Cubist Systematic Strategies LLC Raises Stock Holdings in Customers Bancorp, Inc $CUBI

Key Points

• Cubist Systematic Strategies LLC increased its stake in Customers Bancorp by 164.9%, owning 78,561 shares valued at nearly $3.94 million, as reported in their latest SEC filing.
• Several hedge funds have adjusted their holdings, including GAMMA Investing LLC, which boosted its position by an extraordinary 6,283.2%, now holding 94,727 shares.
• Customers Bancorp's stock received mixed reviews from analysts, with price targets raised by multiple firms, leading to a current consensus rating of "Moderate Buy" and an average target price of $69.25.

Cubist Systematic Strategies LLC boosted its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 164.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,561 shares of the bank's stock after purchasing an additional 48,903 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.25% of Customers Bancorp worth $3,944,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CUBI. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Customers Bancorp during the 4th quarter worth about $46,000. GAMMA Investing LLC raised its stake in Customers Bancorp by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock worth $95,000 after buying an additional 403 shares during the period. Ground Swell Capital LLC bought a new position in Customers Bancorp in the first quarter worth approximately $208,000. Hsbc Holdings PLC acquired a new stake in Customers Bancorp in the fourth quarter valued at approximately $202,000. Finally, EP Wealth Advisors LLC acquired a new stake in Customers Bancorp in the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Stock Up 1.8%

NYSE CUBI traded up $1.23 on Wednesday, reaching $68.61. The company had a trading volume of 413,015 shares, compared to its average volume of 364,015. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The company's fifty day moving average is $65.70 and its 200 day moving average is $56.03. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $72.51. The stock has a market capitalization of $2.17 billion, a P/E ratio of 16.98 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $206.31 million during 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 was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 EPS. Sell-side analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CUBI has been the topic of a number of research reports. Stephens upped their target price on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. DA Davidson upped their price objective 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. B. Riley raised their price objective on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $71.00 to $76.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.88.

About Customers Bancorp

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.