Public Sector Pension Investment Board Acquires 39,460 Shares of Customers Bancorp, Inc $CUBI

Key Points

• The Public Sector Pension Investment Board increased its stake in Customers Bancorp, Inc (NYSE:CUBI) by 54.3%, owning 112,092 shares valued at approximately $5.63 million.
• Recent research reports have resulted in upgraded price targets for Customers Bancorp, with analysts giving the stock a consensus rating of "Moderate Buy" and a price target of $69.25.
• The bank reported earnings of $1.80 per share for the last quarter, exceeding analysts' expectations of $1.50, alongside a revenue of $206.31 million.

Public Sector Pension Investment Board lifted its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 54.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,092 shares of the bank's stock after acquiring an additional 39,460 shares during the quarter. Public Sector Pension Investment Board owned 0.36% of Customers Bancorp worth $5,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CUBI. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Customers Bancorp in the fourth quarter worth approximately $46,000. GAMMA Investing LLC grew its position in Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after buying an additional 403 shares during the period. Summit Investment Advisors Inc. grew its position in Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares during the period. Hsbc Holdings PLC bought a new stake in Customers Bancorp during the fourth quarter valued at approximately $202,000. Finally, EP Wealth Advisors LLC bought a new stake in Customers Bancorp during the fourth quarter valued at approximately $205,000. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Trading Down 0.3%

Shares of NYSE CUBI traded down $0.2010 during mid-day trading on Thursday, reaching $65.5890. The company had a trading volume of 60,830 shares, compared to its average volume of 300,449. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $67.34. The business's 50-day moving average is $61.40 and its 200-day moving average is $54.70. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 16.23 and a beta of 1.59.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The company had revenue of $206.31 million for the quarter, compared to analysts' expectations of $170.81 million. During the same period in the prior year, the business earned $1.49 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on CUBI. B. Riley boosted their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Stephens boosted their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, DA Davidson boosted their target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $69.25.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.