Customers Bancorp, Inc $CUBI Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management cut its stake in Customers Bancorp by 30.9% in the fourth quarter, selling 36,600 shares and leaving it with 82,000 shares valued at about $6.0 million.
• Analyst sentiment remains mixed but generally positive: DA Davidson and Piper Sandler raised price targets, while the consensus view is still Moderate Buy with a target price of $87.50.
• Customers Bancorp reported strong quarterly results, including EPS of $1.97 versus estimates of $1.88 and revenue growth of 57.9% year over year, while also continuing a $100 million stock buyback program.

LSV Asset Management decreased its position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 30.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,000 shares of the bank's stock after selling 36,600 shares during the period. LSV Asset Management owned 0.24% of Customers Bancorp worth $5,996,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CUBI. Arizona State Retirement System raised its holdings in Customers Bancorp by 1.8% during the third quarter. Arizona State Retirement System now owns 8,879 shares of the bank's stock worth $580,000 after purchasing an additional 155 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Customers Bancorp by 0.5% during the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank's stock worth $2,226,000 after purchasing an additional 182 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Customers Bancorp by 17.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank's stock worth $115,000 after purchasing an additional 256 shares during the last quarter. Amalgamated Bank raised its holdings in Customers Bancorp by 3.5% during the third quarter. Amalgamated Bank now owns 8,668 shares of the bank's stock worth $567,000 after purchasing an additional 290 shares during the last quarter. Finally, Lido Advisors LLC raised its holdings in Customers Bancorp by 5.3% during the third quarter. Lido Advisors LLC now owns 5,957 shares of the bank's stock worth $389,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CUBI shares. DA Davidson lifted their price objective on Customers Bancorp from $91.00 to $93.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Zacks Research cut Customers Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Piper Sandler reissued an "overweight" rating and issued a $86.00 price target (up from $82.00) on shares of Customers Bancorp in a report on Monday, April 27th. Weiss Ratings raised Customers Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. cut their price target on Customers Bancorp from $90.00 to $84.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.50.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 1,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the purchase, the chief executive officer owned 521,714 shares of the company's stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philip Watkins sold 3,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $75.67, for a total value of $227,010.00. Following the completion of the transaction, the executive vice president owned 43,993 shares of the company's stock, valued at $3,328,950.31. The trade was a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 10.45% of the company's stock.

Customers Bancorp Stock Performance

NYSE CUBI opened at $77.00 on Wednesday. Customers Bancorp, Inc has a fifty-two week low of $49.54 and a fifty-two week high of $82.56. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 9.77 and a beta of 1.52. The business has a fifty day moving average of $73.18 and a 200-day moving average of $72.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The company had revenue of $225.40 million during the quarter, compared to analysts' expectations of $223.51 million. During the same period in the previous year, the firm posted $1.54 earnings per share. The business's revenue for the quarter was up 57.9% compared to the same quarter last year. As a group, analysts predict that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.

Customers Bancorp declared that its board has approved a stock buyback plan on Wednesday, February 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

About Customers Bancorp

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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