Voya Investment Management LLC Purchases 5,835 Shares of Customers Bancorp, Inc $CUBI

Key Points

• Voya Investment Management LLC increased its stake in Customers Bancorp by 30.9%, purchasing an additional 5,835 shares, bringing its total ownership to approximately 24,741 shares valued at $1,242,000.
• Customers Bancorp reported $1.80 EPS for the last quarter, exceeding estimates of $1.50, with revenues of $206.31 million, surpassing the consensus estimate of $170.81 million.
• Analysts have raised their price targets for Customers Bancorp, with the average target now set at $72.43, indicating a consensus rating of "Moderate Buy."

Voya Investment Management LLC boosted its position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 30.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,741 shares of the bank's stock after buying an additional 5,835 shares during the period. Voya Investment Management LLC owned approximately 0.08% of Customers Bancorp worth $1,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in Customers Bancorp during the first quarter valued at approximately $37,000. GAMMA Investing LLC raised its position in Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after purchasing an additional 403 shares during the period. Ground Swell Capital LLC purchased a new stake in Customers Bancorp during the first quarter valued at approximately $208,000. Teacher Retirement System of Texas purchased a new stake in Customers Bancorp during the first quarter valued at approximately $219,000. Finally, EP Wealth Advisors LLC raised its holdings in shares of Customers Bancorp by 5.3% in the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank's stock worth $222,000 after buying an additional 223 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Trading Down 0.4%

CUBI opened at $66.33 on Wednesday. The stock's fifty day moving average is $66.23 and its two-hundred day moving average is $56.98. The company has a market capitalization of $2.10 billion, a P/E ratio of 16.42 and a beta of 1.62. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $72.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. The company had revenue of $206.31 million for the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.Customers Bancorp's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. Analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stephens increased their price target on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. B. Riley increased their price target on Customers Bancorp from $85.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. DA Davidson increased their price target on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods increased their price target on Customers Bancorp from $71.00 to $76.00 and gave the stock a "market perform" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.43.

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.

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