Jupiter Topco LLC Purchases Shares of 15,722 Customers Bancorp, Inc $CUBI

Key Points

• Jupiter Topco LLC acquired 15,722 shares of Customers Bancorp in the second quarter, worth approximately $1.24 million. Institutional investors collectively own 89.29% of the company.
• Analysts maintain a generally positive outlook, with Customers Bancorp carrying a “Moderate Buy” consensus rating and an average price target of $90.69.
• The bank reported quarterly EPS of $2.05, topping estimates of $2.00, while revenue rose 10.2% year over year to $227.28 million. Chairman Jay Sidhu separately sold 68,821 shares for roughly $5.51 million.

Jupiter Topco LLC bought a new position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,722 shares of the bank's stock, valued at approximately $1,244,000.

Several other institutional investors and hedge funds have also bought and sold shares of CUBI. Arax Advisory Partners lifted its holdings in shares of Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank's stock valued at $26,000 after purchasing an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Customers Bancorp in the 3rd quarter worth $29,000. Jones Financial Companies Lllp purchased a new position in Customers Bancorp during the first quarter valued at $37,000. Bessemer Group Inc. increased its position in Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank's stock worth $37,000 after purchasing an additional 232 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in shares of Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank's stock worth $43,000 after purchasing an additional 404 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Customers Bancorp in a research report on Monday, June 29th. Fundamental Research set a $94.00 price target on shares of Customers Bancorp in a research report on Wednesday, July 1st. Piper Sandler upped their price objective on Customers Bancorp from $86.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Morgan Stanley boosted their price target on Customers Bancorp from $83.00 to $88.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods boosted their target price on 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 research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Customers Bancorp currently has an average rating of "Moderate Buy" and an average target price of $90.69.

Insiders Place Their Bets

In related news, Chairman Jay Sidhu sold 68,821 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the transaction, the chairman directly owned 667,757 shares of the company's stock, valued at $53,480,658.13. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 100,000 shares of company stock valued at $7,981,084. 10.45% of the stock is owned by corporate insiders.

Customers Bancorp Trading Up 1.5%

Shares of CUBI stock opened at $80.81 on Friday. The stock has a market capitalization of $2.73 billion, a P/E ratio of 9.85 and a beta of 1.47. Customers Bancorp, Inc has a fifty-two week low of $59.34 and a fifty-two week high of $84.38. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. The stock has a 50-day simple moving average of $79.10 and a 200 day simple moving average of $75.21.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.05. The business had revenue of $227.28 million for the quarter, compared to analyst estimates of $229.24 million. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 earnings per share. On average, sell-side analysts expect that Customers Bancorp, Inc will post 8.43 earnings per share for the current fiscal 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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