Royce & Associates LP Raises Stock Holdings in Customers Bancorp, Inc (NYSE:CUBI)

Key Points

• Royce & Associates LP increased its stake in Customers Bancorp by 3.5% in Q1, holding 261,506 shares valued at approximately $13.13 million.
• Customers Bancorp saw stock upgrades from multiple analysts, with a consensus rating of "Moderate Buy" and a $65.33 price target, reflecting positive sentiment from the market.
• The bank reported earnings of $1.80 per share for the last quarter, exceeding expectations and showing a year-over-year revenue growth of 3.8%.

Royce & Associates LP grew its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 261,506 shares of the bank's stock after purchasing an additional 8,916 shares during the period. Royce & Associates LP owned about 0.83% of Customers Bancorp worth $13,128,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC lifted its position in Customers Bancorp by 40.1% during the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank's stock valued at $71,606,000 after purchasing an additional 421,335 shares during the period. Heartland Advisors Inc. acquired a new stake in shares of Customers Bancorp in the 4th quarter valued at approximately $7,672,000. Shellback Capital LP acquired a new stake in shares of Customers Bancorp in the 4th quarter valued at approximately $5,257,000. JPMorgan Chase & Co. increased its stake in Customers Bancorp by 33.1% during the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock worth $20,912,000 after purchasing an additional 106,895 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Customers Bancorp by 1,866.5% during the 1st quarter. SG Americas Securities LLC now owns 109,713 shares of the bank's stock worth $5,508,000 after purchasing an additional 104,134 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

CUBI has been the subject of several research reports. DA Davidson raised their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday. Wall Street Zen raised Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods lifted their target price on Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a report on Monday. Stephens raised their price target on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, B. Riley raised their price target on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Customers Bancorp has an average rating of "Moderate Buy" and an average target price of $67.00.

Customers Bancorp Trading Up 1.2%

Shares of Customers Bancorp stock traded up $0.78 during midday trading on Tuesday, reaching $66.52. 106,029 shares of the company's stock traded hands, compared to its average volume of 299,716. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $67.19. The company has a market cap of $2.10 billion, a PE ratio of 16.47 and a beta of 1.55. The stock has a 50 day moving average of $57.10 and a 200-day moving average of $53.31.

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

Customers Bancorp 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.