South Dakota Investment Council Has $7.47 Million Holdings in Customers Bancorp, Inc $CUBI

Key Points

• South Dakota Investment Council reduced its Customers Bancorp stake by 13.2% in the first quarter, selling 16,334 shares and retaining 107,604 shares valued at approximately $7.47 million. Institutional investors and hedge funds collectively own 89.29% of the stock.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $90.15. Recent targets range from $88 to $100, including buy or overweight ratings from DA Davidson and Piper Sandler.
• Customers Bancorp reported quarterly EPS of $2.05, beating estimates of $2.00, while revenue rose 10.2% year over year to $227.28 million. The stock recently traded at $78.30, near its 52-week high of $82.56.

South Dakota Investment Council decreased its stake in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,604 shares of the bank's stock after selling 16,334 shares during the period. South Dakota Investment Council owned approximately 0.32% of Customers Bancorp worth $7,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CUBI. Arax Advisory Partners boosted its stake in Customers Bancorp by 218.9% in the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank's stock worth $26,000 after purchasing an additional 243 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Customers Bancorp in the 3rd quarter valued at about $29,000. Bessemer Group Inc. raised its stake in shares of Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank's stock valued at $37,000 after purchasing an additional 232 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the first quarter valued at about $37,000. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank's stock valued at $43,000 after purchasing an additional 404 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 60,315 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman directly owned 767,557 shares of the company's stock, valued at approximately $58,510,870.11. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Samvir S. Sidhu purchased 1,000 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price 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 SEC filing for this purchase provides additional information. 10.45% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Customers Bancorp Stock Performance

Shares of NYSE CUBI opened at $78.30 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $76.76 and a 200 day moving average price of $74.52. The stock has a market capitalization of $2.65 billion, a PE ratio of 9.55 and a beta of 1.48. Customers Bancorp, Inc has a 52 week low of $59.34 and a 52 week high of $82.56.

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 analysts' consensus estimates of $2.00 by $0.05. The company had revenue of $227.28 million for the quarter, compared to analysts' expectations of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The business's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.80 EPS. Analysts predict that Customers Bancorp, Inc will post 8.38 earnings per share for the current fiscal year.

Customers Bancorp Company Profile

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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