Renaissance Technologies LLC Purchases 45,800 Shares of Customers Bancorp, Inc $CUBI

Renaissance Technologies LLC increased its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 34.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,720 shares of the bank's stock after buying an additional 45,800 shares during the period. Renaissance Technologies LLC owned 0.53% of Customers Bancorp worth $12,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank's stock worth $16,279,000 after acquiring an additional 222,546 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Customers Bancorp by 247.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 90,102 shares of the bank's stock valued at $5,890,000 after acquiring an additional 64,141 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Customers Bancorp by 213.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank's stock valued at $4,864,000 after purchasing an additional 45,299 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Customers Bancorp in the fourth quarter valued at $1,534,000. Finally, Intech Investment Management LLC increased its position in Customers Bancorp by 255.1% in the fourth quarter. Intech Investment Management LLC now owns 120,617 shares of the bank's stock worth $8,820,000 after purchasing an additional 86,654 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CUBI shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Customers Bancorp in a research note on Monday, June 29th. DA Davidson lifted their price objective on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Morgan Stanley upped their target price on shares of Customers Bancorp from $83.00 to $88.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. JPMorgan Chase & Co. increased their price target on shares of Customers Bancorp from $86.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Finally, Piper Sandler lifted their price target on Customers Bancorp from $86.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.15.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $72.58 per share, with a total value of $72,580.00. Following the purchase, the chief executive officer owned 521,714 shares of the company's stock, valued at approximately $37,866,002.12. The trade was a 0.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philip Watkins sold 3,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $75.67, for a total value of $227,010.00. Following the transaction, the executive vice president owned 43,993 shares of the company's stock, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 94,494 shares of company stock worth $7,294,032. 10.45% of the stock is currently owned by company insiders.

Customers Bancorp Price Performance

CUBI stock opened at $78.61 on Friday. The stock has a market cap of $2.66 billion, a PE ratio of 9.59 and a beta of 1.48. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $82.56. The company has a 50-day moving average price of $76.83 and a 200 day moving average price of $74.55. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The business had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same quarter last year, the firm earned $1.80 earnings per share. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

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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