Fox Run Management L.L.C. Boosts Stake in Customers Bancorp, Inc $CUBI

Key Points

• Fox Run Management L.L.C. boosted its stake in Customers Bancorp by 99.5%, acquiring an additional 11,215 shares in the first quarter, bringing its total holdings to 22,481 shares valued at approximately $1.13 million.
• Several analysts have recently increased their price targets for Customers Bancorp, with DA Davidson raising its target from $69.00 to $78.00 and maintaining a "buy" rating.
• Customers Bancorp reported a Q2 EPS of $1.80, surpassing analyst expectations of $1.50, alongside a revenue of $206.31 million, compared to the anticipated $170.81 million.

Fox Run Management L.L.C. increased its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 99.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,481 shares of the bank's stock after purchasing an additional 11,215 shares during the quarter. Fox Run Management L.L.C. owned approximately 0.07% of Customers Bancorp worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Customers Bancorp in the 4th quarter worth approximately $46,000. GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after buying an additional 403 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares during the period. Ground Swell Capital LLC bought a new position in shares of Customers Bancorp during the first quarter valued at approximately $208,000. Finally, Hsbc Holdings PLC purchased a new stake in Customers Bancorp in the fourth quarter worth $202,000. Institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

CUBI has been the topic of a number of research analyst reports. Stephens boosted their price objective on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. 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 raised their price objective 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. Finally, DA Davidson upped their target price on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One research 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. According to data from MarketBeat, Customers Bancorp has an average rating of "Moderate Buy" and an average target price of $69.25.

Customers Bancorp Stock Down 0.3%

Customers Bancorp stock traded down $0.1770 during mid-day trading on Wednesday, reaching $65.8230. The stock had a trading volume of 207,781 shares, compared to its average volume of 348,952. Customers Bancorp, Inc has a one year low of $40.75 and a one year high of $67.34. The company has a 50-day moving average price of $61.40 and a two-hundred day moving average price of $54.70. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.29 and a beta of 1.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $206.31 million during the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. Customers Bancorp's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $1.49 EPS. On average, analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

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.