Deutsche Bank AG Purchases New Position in Customers Bancorp, Inc $CUBI

Key Points

• Deutsche Bank AG purchased 33,161 shares of Customers Bancorp in the second quarter, valued at approximately $2.6 million and representing a 0.10% stake. Institutional investors collectively own 89.29% of the company.
• Customers Bancorp reported quarterly EPS of $2.05, exceeding analyst estimates of $2.00, while revenue rose 10.2% year over year to $227.28 million. Shares opened at $79.14, up 0.8%.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $90.69, but insiders have sold 100,000 shares worth nearly $8.0 million over the past 90 days, including a large sale by Chairman Jay S. Sidhu.

Deutsche Bank AG bought a new stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,161 shares of the bank's stock, valued at approximately $2,623,000. Deutsche Bank AG owned 0.10% of Customers Bancorp as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Arax Advisory Partners grew its stake in shares of Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank's stock worth $26,000 after acquiring an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Customers Bancorp during the 3rd quarter valued at about $29,000. Jones Financial Companies Lllp bought a new stake in Customers Bancorp during the 1st quarter valued at about $37,000. Bessemer Group Inc. raised its holdings in Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank's stock worth $37,000 after buying an additional 232 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank's stock worth $43,000 after buying an additional 404 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Up 0.8%

Shares of NYSE:CUBI opened at $79.14 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 9.65 and a beta of 1.49. The business has a 50 day simple moving average of $79.02 and a two-hundred day simple moving average of $74.98. Customers Bancorp, Inc has a 1 year low of $59.34 and a 1 year high of $84.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm had revenue of $227.28 million during the quarter, compared to analysts' expectations of $229.24 million. During the same quarter in the prior year, the company earned $1.80 EPS. The company's revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Customers Bancorp, Inc will post 8.43 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the sale, the chairman owned 667,757 shares in the company, valued at $53,480,658.13. This represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 100,000 shares of company stock worth $7,981,084. Insiders own 10.45% of the company's stock.

Wall Street Analysts Forecast Growth

CUBI has been the topic of a number of analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Customers Bancorp in a research note on Monday, June 29th. Morgan Stanley raised their price target on Customers Bancorp from $83.00 to $88.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $88.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. DA Davidson upped their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Finally, Fundamental Research set a $94.00 target price on Customers Bancorp in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $90.69.

Customers Bancorp Company Profile

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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