Russell Investments Group Ltd. Purchases 3,958 Shares of Customers Bancorp, Inc $CUBI

Key Points

• Russell Investments Group Ltd. increased its stake in Customers Bancorp by 5.2%, owning 80,652 shares valued at approximately $4 million.
• Several analysts have raised their price targets for Customers Bancorp, with B. Riley setting a new target of $85.00 and DA Davidson increasing theirs to $78.00.
• Customers Bancorp reported a quarterly EPS of $1.80, surpassing estimates, and achieving a year-over-year revenue increase of 3.8%.

Russell Investments Group Ltd. increased its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,652 shares of the bank's stock after acquiring an additional 3,958 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of Customers Bancorp worth $4,049,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in Customers Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,424 shares of the bank's stock valued at $848,000 after acquiring an additional 3,792 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Customers Bancorp by 20.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank's stock valued at $865,000 after buying an additional 2,994 shares during the period. Raymond James Financial Inc. acquired a new position in Customers Bancorp in the 4th quarter valued at approximately $2,543,000. MetLife Investment Management LLC increased its stake in Customers Bancorp by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 18,023 shares of the bank's stock valued at $877,000 after buying an additional 1,147 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Customers Bancorp by 167.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,339 shares of the bank's stock valued at $455,000 after buying an additional 5,845 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Up 0.5%

Shares of CUBI traded up $0.38 during trading hours on Wednesday, hitting $70.61. 80,662 shares of the company were exchanged, compared to its average volume of 299,061. The company has a market cap of $2.23 billion, a PE ratio of 17.45 and a beta of 1.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The firm's 50 day moving average is $62.79 and its 200-day moving average is $54.98. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $71.07.

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

Analyst Ratings Changes

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

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.