Wealth Enhancement Advisory Services LLC Takes $239,000 Position in Customers Bancorp, Inc $CUBI

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new position in Customers Bancorp, purchasing 4,077 shares valued at approximately $239,000.
• Wellington Management Group LLP significantly increased its stake in Customers Bancorp by 34.3%, now owning over 3.5 million shares valued at approximately $177 million.
• Customers Bancorp reported an EPS of $1.80 for the last quarter, exceeding analysts' expectations by $0.30, with quarterly revenue reaching $206.31 million.

Wealth Enhancement Advisory Services LLC acquired a new stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,077 shares of the bank's stock, valued at approximately $239,000.

A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Customers Bancorp by 34.3% in the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock valued at $177,349,000 after purchasing an additional 902,406 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Customers Bancorp by 7.3% in the first quarter. American Century Companies Inc. now owns 830,023 shares of the bank's stock valued at $41,667,000 after acquiring an additional 56,251 shares during the period. Nuveen LLC bought a new stake in Customers Bancorp during the first quarter valued at approximately $26,652,000. Allspring Global Investments Holdings LLC lifted its position in Customers Bancorp by 11.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 317,584 shares of the bank's stock valued at $16,127,000 after purchasing an additional 32,216 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Customers Bancorp by 71.4% in the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank's stock worth $13,791,000 after acquiring an additional 114,430 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. DA Davidson lifted their target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. National Bankshares set a $89.00 price objective on shares of Customers Bancorp in a research report on Wednesday, September 24th. Zacks Research cut shares of Customers Bancorp from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Cowen started coverage on shares of Customers Bancorp in a research note on Wednesday, September 24th. They issued a "buy" rating on the stock. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $76.88.

Customers Bancorp Trading Up 0.8%

CUBI stock opened at $65.07 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 16.11 and a beta of 1.55. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $72.51. The business has a 50 day simple moving average of $66.65 and a two-hundred day simple moving average of $58.18.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $206.31 million during 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%.The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.49 EPS. Research analysts anticipate 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.

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