Customers Bancorp, Inc (NYSE:CUBI) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in Customers Bancorp by 25.2%, owning approximately 0.27% of the bank's stock after selling over 28,000 shares.
• Several equity research firms have raised their price targets for Customers Bancorp, with B. Riley increasing the target from $82.00 to $85.00, reflecting a generally positive outlook on the stock.
• Customers Bancorp reported a quarterly EPS of $1.80, exceeding the consensus estimate by $0.30, alongside a year-over-year revenue increase of 3.8%.

Federated Hermes Inc. lowered its stake in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 25.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,475 shares of the bank's stock after selling 28,097 shares during the quarter. Federated Hermes Inc. owned approximately 0.27% of Customers Bancorp worth $4,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Customers Bancorp during the fourth quarter worth about $46,000. GAMMA Investing LLC raised its position in shares of 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 in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after purchasing an additional 254 shares during the period. Hsbc Holdings PLC bought a new stake in Customers Bancorp in the fourth quarter worth about $202,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Customers Bancorp in the 4th quarter worth approximately $205,000. Institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. B. Riley raised their price objective on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. DA Davidson boosted their price objective 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. 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. Keefe, Bruyette & Woods lifted their price target on Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Finally, Wall Street Zen raised Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Customers Bancorp Trading Down 2.4%

Shares of CUBI stock opened at $62.20 on Monday. The business's 50 day moving average is $58.09 and its two-hundred day moving average is $53.77. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $67.19. The company has a market cap of $1.96 billion, a PE ratio of 15.40 and a beta of 1.59.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $206.31 million for the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 EPS. Equities analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current year.

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.

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