Pinnacle Holdings LLC Takes $1.37 Million Position in Customers Bancorp, Inc $CUBI

Key Points

• Pinnacle Holdings LLC acquired 17,370 Customers Bancorp shares worth approximately $1.37 million, while institutional investors collectively owned 89.29% of the company.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $90.69 versus the stock’s reported $79.84 price; targets ranged from $86 to $100.
• Customers Bancorp exceeded quarterly earnings expectations, reporting $2.05 EPS versus $2.00 expected and 10.2% year-over-year revenue growth, though insiders sold roughly $12.6 million of stock over the past 90 days.

Pinnacle Holdings LLC acquired a new position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,370 shares of the bank's stock, valued at approximately $1,374,000. Pinnacle Holdings LLC owned about 0.05% of Customers Bancorp at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Customers Bancorp by 11.5% in the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank's stock worth $269,000 after purchasing an additional 553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Customers Bancorp by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank's stock valued at $885,000 after buying an additional 786 shares during the period. Millennium Management LLC grew its holdings in shares of Customers Bancorp by 71.4% in the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank's stock valued at $13,791,000 after buying an additional 114,430 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the 1st quarter valued at $37,000. Finally, Creative Planning acquired a new stake in Customers Bancorp during the 2nd quarter worth $250,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CUBI shares. Hovde Group boosted their target price on Customers Bancorp from $80.00 to $86.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. Morgan Stanley raised their price target on Customers Bancorp from $83.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. DA Davidson lifted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $88.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Finally, Fundamental Research set a $94.00 price objective on Customers Bancorp in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.69.

Customers Bancorp Stock Up 0.1%

CUBI stock opened at $79.84 on Monday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 9.74 and a beta of 1.49. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $84.38. The business has a 50 day moving average price of $78.79 and a two-hundred day moving average price of $74.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating 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 company had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same quarter in the prior 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. Analysts anticipate that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 68,821 shares of the stock in a transaction on 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 in the company, 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 legal filing with the SEC, which is available through this link. Insiders have sold 160,315 shares of company stock worth $12,578,896 over the last 90 days. Corporate insiders own 10.45% of the company's stock.

About Customers Bancorp

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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