Intech Investment Management LLC Has $3.38 Million Holdings in Customers Bancorp, Inc $CUBI

Key Points

• Intech Investment Management LLC increased its stake in Customers Bancorp by 20.3%, owning 67,262 shares valued at approximately $3.38 million as of the last quarter.
• Several institutional investors, including Wellington Management Group LLC and GAMMA Investing LLC, have significantly boosted their positions in Customers Bancorp, increasing its overall institutional ownership to 89.29%.
• Customers Bancorp reported a quarterly earnings per share of $1.80, surpassing the consensus estimate by $0.30, with quarterly revenue rising 3.8% year-over-year.

Intech Investment Management LLC grew its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,262 shares of the bank's stock after purchasing an additional 11,346 shares during the quarter. Intech Investment Management LLC owned approximately 0.21% of Customers Bancorp worth $3,377,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CUBI. Wellington Management Group LLP increased its stake in Customers Bancorp by 34.3% in the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock worth $177,349,000 after purchasing an additional 902,406 shares during the period. Nuveen LLC purchased a new stake in Customers Bancorp in the first quarter worth about $26,652,000. Millennium Management LLC grew its position in shares of Customers Bancorp by 71.4% during the first quarter. Millennium Management LLC now owns 274,730 shares of the bank's stock worth $13,791,000 after purchasing an additional 114,430 shares in the last quarter. SG Americas Securities LLC boosted its stake in Customers Bancorp by 1,866.5% during the first quarter. SG Americas Securities LLC now owns 109,713 shares of the bank's stock valued at $5,508,000 after buying an additional 104,134 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Customers Bancorp by 6,283.2% during the 1st quarter. GAMMA Investing LLC now owns 94,727 shares of the bank's stock worth $4,755,000 after acquiring an additional 93,243 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CUBI shares. Stephens boosted their price target on Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $71.00 to $76.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. DA Davidson lifted their target price on Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, B. Riley boosted their price target on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.88.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI traded up $1.43 during trading hours on Thursday, hitting $68.42. The stock had a trading volume of 438,137 shares, compared to its average volume of 396,130. The stock's fifty day simple moving average is $66.04 and its 200 day simple moving average is $56.61. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 16.94 and a beta of 1.62. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $72.51.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $206.31 million during the quarter, compared to analysts' expectations of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.49 earnings per share. Sell-side analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share 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.