Louisiana State Employees Retirement System Makes New $979,000 Investment in Customers Bancorp, Inc $CUBI

Key Points

• Louisiana State Employees Retirement System bought a new stake in Customers Bancorp, purchasing 14,100 shares worth about $979,000 in the first quarter.
• Customers Bancorp reported strong quarterly results, with EPS of $1.97 beating estimates and revenue rising 57.9% year over year to $225.4 million.
• Analysts remain generally constructive on the stock, with an average rating of Moderate Buy and an average price target of $89.62, while recent insider trades were mixed.

Louisiana State Employees Retirement System purchased a new stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,100 shares of the bank's stock, valued at approximately $979,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Arax Advisory Partners increased its position in shares of Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank's stock worth $26,000 after acquiring an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Customers Bancorp in the 3rd quarter worth $29,000. Jones Financial Companies Lllp acquired a new position in Customers Bancorp in the 1st quarter worth $37,000. Transamerica Financial Advisors LLC increased its holdings in Customers Bancorp by 216.0% during 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 in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Customers Bancorp during the fourth quarter worth about $105,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Stock Up 0.0%

NYSE:CUBI opened at $77.74 on Friday. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $82.56. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 9.87 and a beta of 1.48. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The stock's 50 day moving average price is $76.06 and its two-hundred day moving average price is $74.33.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. During the same quarter in the prior year, the firm posted $1.54 EPS. The firm's revenue for the quarter was up 57.9% compared to the same quarter last year. Equities research analysts expect that Customers Bancorp, Inc will post 8.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on CUBI shares. DA Davidson upped their price target on Customers Bancorp from $91.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Zacks Research cut shares of Customers Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Hovde Group raised their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a "market perform" rating in a research report on Tuesday, April 28th. Morgan Stanley boosted their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Customers Bancorp in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $89.62.

Insider Buying and Selling at Customers Bancorp

In other news, EVP Philip Watkins sold 3,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the transaction, the executive vice president directly owned 43,993 shares in the company, valued at $3,328,950.31. The trade was a 6.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Samvir S. Sidhu bought 1,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the acquisition, the chief executive officer owned 521,714 shares in the company, valued at $37,866,002.12. This trade represents a 0.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 10.45% of the company's stock.

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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