Trexquant Investment LP Has $5.40 Million Holdings in Customers Bancorp, Inc $CUBI

Key Points

• Trexquant Investment LP increased its stake in Customers Bancorp by 207.1%, owning approximately 0.34% of the company valued at $5.4 million after purchasing an additional 72,540 shares.
• Recent analyst ratings for Customers Bancorp show a consensus of "Moderate Buy," with various price target increases, including DA Davidson raising it from $69 to $78.
• Customers Bancorp reported strong quarterly earnings, with an EPS of $1.80 that surpassed estimates and a revenue of $206.31 million, reflecting a 3.8% increase compared to the previous year.

Trexquant Investment LP raised its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 207.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,559 shares of the bank's stock after purchasing an additional 72,540 shares during the quarter. Trexquant Investment LP owned about 0.34% of Customers Bancorp worth $5,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Walleye Capital LLC increased its stake in shares of Customers Bancorp by 71.8% during the first quarter. Walleye Capital LLC now owns 10,983 shares of the bank's stock valued at $551,000 after acquiring an additional 4,589 shares during the period. Haverford Trust Co acquired a new position in Customers Bancorp in the 1st quarter worth approximately $249,000. AlphaQuest LLC boosted its stake in shares of Customers Bancorp by 53.1% during the 1st quarter. AlphaQuest LLC now owns 21,379 shares of the bank's stock valued at $1,073,000 after buying an additional 7,413 shares during the period. Wellington Management Group LLP boosted its stake in shares of Customers Bancorp by 34.3% during the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock valued at $177,349,000 after buying an additional 902,406 shares during the period. Finally, Algert Global LLC boosted its stake in shares of Customers Bancorp by 185.4% during the 1st quarter. Algert Global LLC now owns 94,549 shares of the bank's stock valued at $4,746,000 after buying an additional 61,422 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Trading Down 3.6%

Shares of CUBI traded down $2.52 on Friday, reaching $67.45. 665,566 shares of the company's stock were exchanged, compared to its average volume of 326,639. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $2.13 billion, a P/E ratio of 16.69 and a beta of 1.62. The business has a 50 day moving average price of $65.34 and a two-hundred day moving average price of $55.76. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $72.51.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, topping 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 business 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 posted $1.49 earnings per share. Customers Bancorp's revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CUBI shares. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note 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 report on Monday, July 28th. Stephens boosted their price objective 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 target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $71.00 to $76.00 and gave the company a "market perform" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Customers Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price 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.