Militia Capital Partners LP Takes Position in Customers Bancorp, Inc $CUBI

Key Points

• Militia Capital Partners LP opened a new position in Customers Bancorp, buying 20,000 shares worth about $1.46 million in the fourth quarter.
• Several other institutional investors also added to or adjusted their stakes, and 89.29% of the bank’s stock is now held by institutions and hedge funds.
• Customers Bancorp’s latest results topped expectations, with EPS of $1.97 versus the $1.88 consensus, while analysts currently rate the stock Moderate Buy with an average target price of $87.50.

Militia Capital Partners LP purchased a new stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,000 shares of the bank's stock, valued at approximately $1,462,000. Militia Capital Partners LP owned about 0.06% of Customers Bancorp at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Lido Advisors LLC grew its position in shares of Customers Bancorp by 3.0% in the fourth quarter. Lido Advisors LLC now owns 6,135 shares of the bank's stock valued at $412,000 after purchasing an additional 178 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Customers Bancorp by 0.5% in the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank's stock valued at $2,226,000 after purchasing an additional 182 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Customers Bancorp by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank's stock valued at $1,289,000 after purchasing an additional 230 shares during the last quarter. Arax Advisory Partners grew its position in shares of Customers Bancorp by 218.9% in 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. Finally, Arizona State Retirement System grew its position in shares of Customers Bancorp by 3.0% in the fourth quarter. Arizona State Retirement System now owns 9,146 shares of the bank's stock valued at $669,000 after purchasing an additional 267 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Hovde Group increased their price target 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. JPMorgan Chase & Co. decreased their target price on shares of Customers Bancorp from $90.00 to $84.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Stephens upgraded shares of Customers Bancorp from an "underweight" rating to an "equal weight" rating and set a $71.00 target price on the stock in a research report on Monday, March 16th. DA Davidson raised their target price on shares of Customers Bancorp from $91.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Finally, Zacks Research lowered shares of Customers Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.50.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 1,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the acquisition, the chief executive officer directly owned 521,714 shares in the company, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the completion of the transaction, the chairman owned 767,557 shares in the company, valued at approximately $58,510,870.11. This trade represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.45% of the stock is owned by company insiders.

Customers Bancorp Stock Up 0.2%

Shares of NYSE CUBI opened at $76.62 on Wednesday. Customers Bancorp, Inc has a 1 year low of $50.13 and a 1 year high of $82.56. The firm's 50 day moving average price is $75.37 and its 200 day moving average price is $73.68. The firm has a market cap of $2.59 billion, a P/E ratio of 9.72 and a beta of 1.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.88 by $0.09. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The firm had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. During the same quarter last year, the business earned $1.54 earnings per share. Customers Bancorp's revenue was up 57.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Customers Bancorp, Inc will post 8.52 earnings per share for the current year.

Customers Bancorp 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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