Customers Bancorp, Inc (NYSE:CUBI) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,584 shares of the bank's stock after buying an additional 32,216 shares during the period. Allspring Global Investments Holdings LLC owned about 1.01% of Customers Bancorp worth $16,127,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in Customers Bancorp in the 4th quarter valued at about $1,277,000. Smartleaf Asset Management LLC increased its stake in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after acquiring an additional 1,255 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Customers Bancorp during the fourth quarter valued at approximately $2,543,000. Amundi lifted its stake in Customers Bancorp by 171.7% during the fourth quarter. Amundi now owns 14,246 shares of the bank's stock worth $671,000 after purchasing an additional 9,003 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of Customers Bancorp by 755.2% in the 4th quarter. AlphaQuest LLC now owns 13,966 shares of the bank's stock valued at $680,000 after purchasing an additional 12,333 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Trading Up 2.2%

CUBI stock traded up $1.40 on Friday, reaching $65.95. The company's stock had a trading volume of 292,870 shares, compared to its average volume of 355,927. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $68.49. The firm has a market cap of $2.08 billion, a PE ratio of 16.61 and a beta of 1.55. The business has a fifty day simple moving average of $53.44 and a two-hundred day simple moving average of $51.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.96 and a current ratio of 0.96.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. The business had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. During the same period in the previous year, the business earned $1.68 EPS. As a group, research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Wall Street Analyst Weigh In

CUBI has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Customers Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. B. Riley upped their target price on Customers Bancorp from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Keefe, Bruyette & Woods dropped their target price on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $64.78.

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.