Intech Investment Management LLC Has $3.38 Million Position 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 boosted its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,262 shares of the bank's stock after acquiring an additional 11,346 shares during the period. Intech Investment Management LLC owned 0.21% of Customers Bancorp worth $3,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CUBI. Wellington Management Group LLP boosted its position in shares of Customers Bancorp by 34.3% during the first 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 in the last quarter. Nuveen LLC acquired a new position in shares of Customers Bancorp in the 1st quarter valued at approximately $26,652,000. Millennium Management LLC increased its stake in Customers Bancorp by 71.4% during the 1st 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% in the 1st quarter. SG Americas Securities LLC now owns 109,713 shares of the bank's stock worth $5,508,000 after purchasing an additional 104,134 shares during the period. Finally, GAMMA Investing LLC boosted its position in 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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CUBI shares. B. Riley lifted their target price on Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Stephens raised 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. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods increased their price target on shares of Customers Bancorp from $71.00 to $76.00 and gave the company a "market perform" rating in a report on Friday, September 5th. Finally, DA Davidson upped their target price on Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.88.

Customers Bancorp Price Performance

Shares of CUBI opened at $67.77 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 16.78 and a beta of 1.62. The business has a 50-day moving average of $65.78 and a 200-day moving average of $56.25. 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 posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.The firm had revenue of $206.31 million during the quarter, compared to analyst estimates of $170.81 million. During the same period last year, the company posted $1.49 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current 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.

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