Janus Henderson Group PLC Has $1.09 Million Stake in Customers Bancorp, Inc $CUBI

Key Points

• Janus Henderson Group cut its Customers Bancorp stake by 84.3% in the first quarter, retaining 15,722 shares valued at approximately $1.09 million. Institutional investors and hedge funds collectively own 89.29% of CUBI.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $90.69. Recent targets range from $86 to $100.
• Customers Bancorp exceeded quarterly earnings expectations, reporting $2.05 in EPS versus a $2.00 estimate, while revenue rose 10.2% year over year to $227.28 million. Chairman Jay S. Sidhu also sold 68,821 shares for about $5.51 million.

Janus Henderson Group PLC lowered its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 84.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,722 shares of the bank's stock after selling 84,443 shares during the period. Janus Henderson Group PLC's holdings in Customers Bancorp were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amundi boosted its stake in shares of Customers Bancorp by 46.9% during the 1st quarter. Amundi now owns 6,419 shares of the bank's stock worth $446,000 after buying an additional 2,049 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Customers Bancorp by 33.8% in the first quarter. California State Teachers Retirement System now owns 39,610 shares of the bank's stock valued at $2,749,000 after acquiring an additional 10,004 shares during the last quarter. Royal Bank of Canada raised its holdings in Customers Bancorp by 509.3% during the first quarter. Royal Bank of Canada now owns 10,114 shares of the bank's stock worth $702,000 after acquiring an additional 8,454 shares in the last quarter. Empowered Funds LLC boosted its position in Customers Bancorp by 4.9% during the first quarter. Empowered Funds LLC now owns 153,602 shares of the bank's stock valued at $10,662,000 after purchasing an additional 7,121 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Customers Bancorp by 2.5% during the first quarter. The Manufacturers Life Insurance Company now owns 14,700 shares of the bank's stock valued at $1,020,000 after purchasing an additional 359 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Jay S. Sidhu sold 68,821 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the sale, the chairman owned 667,757 shares of the company's stock, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 160,315 shares of company stock valued at $12,578,896 over the last three months. Insiders own 10.45% of the company's stock.

Analyst Ratings Changes

CUBI has been the topic of several recent analyst reports. Hovde Group boosted their price target on Customers Bancorp from $80.00 to $86.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. increased their price objective on Customers Bancorp from $86.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Fundamental Research set a $94.00 target price on shares of Customers Bancorp in a research note on Wednesday, July 1st. DA Davidson boosted their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.69.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $82.45 on Tuesday. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 10.05 and a beta of 1.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $83.95. The stock's 50 day moving average is $77.66 and its 200-day moving average is $74.73.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released 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 return on equity of 13.80% and a net margin of 19.07%.The business had revenue of $227.28 million during the quarter, compared to analysts' expectations of $229.24 million. During the same period last year, the firm posted $1.80 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts expect that Customers Bancorp, Inc will post 8.43 EPS for the current year.

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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