Wellington Management Group LLP Acquires 145,956 Shares of Customers Bancorp, Inc $CUBI

Wellington Management Group LLP lifted its stake in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,035,500 shares of the bank's stock after acquiring an additional 145,956 shares during the period. Wellington Management Group LLP owned 11.95% of Customers Bancorp worth $319,208,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CUBI. Northwestern Mutual Wealth Management Co. grew its stake in shares of Customers Bancorp by 247,273.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank's stock worth $16,279,000 after acquiring an additional 222,546 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Customers Bancorp by 213.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank's stock valued at $4,864,000 after purchasing an additional 45,299 shares during the period. HighTower Advisors LLC acquired a new position in Customers Bancorp during the fourth quarter worth $1,534,000. Intech Investment Management LLC lifted its holdings in Customers Bancorp by 255.1% during the 4th quarter. Intech Investment Management LLC now owns 120,617 shares of the bank's stock valued at $8,820,000 after purchasing an additional 86,654 shares during the last quarter. Finally, Summit Global Investments acquired a new position in shares of Customers Bancorp in the 2nd quarter worth approximately $1,016,000. 89.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CUBI. Weiss Ratings restated a "buy (b)" rating on shares of Customers Bancorp in a research report on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. DA Davidson boosted 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, July 27th. Fundamental Research set a $94.00 target price on shares of Customers Bancorp in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $88.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Customers Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $90.69.

Customers Bancorp Price Performance

Shares of CUBI opened at $78.57 on Monday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 9.58 and a beta of 1.49. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $84.38. The company has a 50 day moving average of $79.08 and a 200-day moving average of $75.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. The firm had revenue of $227.28 million during 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 quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. As a group, equities research analysts forecast that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $80.09, for a total value of $5,511,873.89. Following the transaction, the chairman owned 667,757 shares in the company, valued at approximately $53,480,658.13. This represents a 9.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 100,000 shares of company stock worth $7,981,084. Company insiders own 10.45% of the company's stock.

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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