Public Sector Pension Investment Board Has $5.63 Million Stock Holdings in 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 shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 54.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,092 shares of the bank's stock after acquiring an additional 39,460 shares during the period. Public Sector Pension Investment Board owned approximately 0.36% of Customers Bancorp worth $5,627,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Customers Bancorp during the fourth quarter worth $46,000. GAMMA Investing LLC lifted its stake in Customers Bancorp by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after acquiring an additional 403 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Customers Bancorp by 8.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after acquiring an additional 254 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Customers Bancorp in the fourth quarter valued at $202,000. Finally, EP Wealth Advisors LLC acquired a new stake in Customers Bancorp in the fourth quarter valued at $205,000. Institutional investors own 89.29% of the company's stock.

Customers Bancorp Price Performance

CUBI stock traded up $3.5580 during mid-day trading on Friday, hitting $69.0080. The stock had a trading volume of 50,817 shares, compared to its average volume of 299,343. 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 $68.87. The firm has a market capitalization of $2.18 billion, a P/E ratio of 17.04 and a beta of 1.59. The firm has a fifty day simple moving average of $61.67 and a 200 day simple moving average of $54.76.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $206.31 million for the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $1.49 EPS. As a group, research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Customers Bancorp

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.