Customers Bancorp, Inc $CUBI Stake Increased by Walleye Capital LLC

Key Points

• Walleye Capital LLC increased its stake in Customers Bancorp by 71.8%, acquiring an additional 4,589 shares, boosting its total holdings to 10,983 shares valued at approximately $551,000.
• Customers Bancorp recently reported $1.80 earnings per share for the last quarter, exceeding analysts' expectations of $1.50, alongside revenue of $206.31 million.
• Analysts have given Customers Bancorp an average rating of "Moderate Buy", with price targets increasing from $55 to a new high of $85 following positive earnings reports.

Walleye Capital LLC boosted its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 71.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,983 shares of the bank's stock after purchasing an additional 4,589 shares during the period. Walleye Capital LLC's holdings in Customers Bancorp were worth $551,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Customers Bancorp by 34.3% during the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock valued at $177,349,000 after acquiring an additional 902,406 shares during the last quarter. American Century Companies Inc. raised its position in shares of Customers Bancorp by 7.3% during the 1st quarter. American Century Companies Inc. now owns 830,023 shares of the bank's stock worth $41,667,000 after purchasing an additional 56,251 shares during the period. Nuveen LLC acquired a new stake in shares of Customers Bancorp during the 1st quarter worth approximately $26,652,000. Northern Trust Corp raised its position in shares of Customers Bancorp by 19.1% during the 4th quarter. Northern Trust Corp now owns 381,684 shares of the bank's stock worth $18,580,000 after purchasing an additional 61,224 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Customers Bancorp by 11.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 317,584 shares of the bank's stock worth $16,127,000 after acquiring an additional 32,216 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CUBI has been the topic of a number of analyst reports. DA Davidson increased their price objective on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods increased their price objective on shares of Customers Bancorp from $71.00 to $76.00 and gave the stock a "market perform" rating in a report on Friday. Stephens raised their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, B. Riley raised their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $69.88.

Customers Bancorp Price Performance

Shares of CUBI traded down $2.52 during mid-day trading on Friday, hitting $67.44. The company's stock had a trading volume of 406,428 shares, compared to its average volume of 310,741. The firm has a 50-day moving average price of $65.18 and a 200 day moving average price of $55.69. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 16.73 and a beta of 1.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share (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 analysts' expectations of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. On average, research analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp Company 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.