Invesco Ltd. Has $6.11 Million Stock Position in Customers Bancorp, Inc $CUBI

Key Points

• Invesco Ltd. has decreased its holdings in Customers Bancorp by 42.0%, selling 87,976 shares and holding a total of 121,610 shares post-sale.
• Customers Bancorp recently reported $1.80 earnings per share, surpassing analysts' expectations and achieving a 3.8% year-over-year revenue increase.
• Research firms have raised their target prices for Customers Bancorp, with DA Davidson and B. Riley both issuing "buy" ratings and increasing their targets significantly.

Invesco Ltd. lessened its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 42.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,610 shares of the bank's stock after selling 87,976 shares during the quarter. Invesco Ltd. owned approximately 0.39% of Customers Bancorp worth $6,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Shellback Capital LP bought a new position in shares of Customers Bancorp in the fourth quarter valued at approximately $5,257,000. SG Americas Securities LLC raised its position in shares of Customers Bancorp by 1,866.5% in the first quarter. SG Americas Securities LLC now owns 109,713 shares of the bank's stock valued at $5,508,000 after purchasing an additional 104,134 shares during the period. GAMMA Investing LLC raised its position in shares of Customers Bancorp by 6,283.2% in the first quarter. GAMMA Investing LLC now owns 94,727 shares of the bank's stock valued at $4,755,000 after purchasing an additional 93,243 shares during the period. Millennium Management LLC raised its position in shares of Customers Bancorp by 104.1% in the fourth quarter. Millennium Management LLC now owns 160,300 shares of the bank's stock valued at $7,803,000 after purchasing an additional 81,755 shares during the period. Finally, Northern Trust Corp raised its position in shares of Customers Bancorp by 19.1% in the fourth quarter. Northern Trust Corp now owns 381,684 shares of the bank's stock valued at $18,580,000 after purchasing an additional 61,224 shares during the period. Institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CUBI shares. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. B. Riley boosted their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. DA Davidson boosted their target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Stephens boosted their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.25.

Customers Bancorp Stock Performance

CUBI traded up $0.67 during trading on Monday, reaching $71.84. 424,535 shares of the company's stock were exchanged, compared to its average volume of 247,344. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.18. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $63.97 and a 200 day moving average price of $55.27. The company has a market capitalization of $2.27 billion, a P/E ratio of 17.78 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly 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. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The firm had revenue of $206.31 million for the quarter, compared to the consensus estimate of $170.81 million. During the same quarter in the previous year, the company earned $1.49 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. As a group, analysts predict 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.