Customers Bancorp, Inc $CUBI Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Customers Bancorp by 34.3%, owning approximately 11.23% of the bank's shares, valued at about $177.35 million.
• Customers Bancorp reported an earnings per share (EPS) of $1.80, exceeding analysts' expectations of $1.50, and achieved a revenue of $206.31 million for the quarter.
• Recent analyst upgrades have set a price target for Customers Bancorp between $62.00 and $85.00, indicating a generally positive outlook with an average rating of "Moderate Buy".

Wellington Management Group LLP boosted its position in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 34.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,532,851 shares of the bank's stock after purchasing an additional 902,406 shares during the period. Wellington Management Group LLP owned about 11.23% of Customers Bancorp worth $177,349,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its holdings in Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Customers Bancorp by 3.8% during the first quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock worth $373,000 after purchasing an additional 270 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock worth $95,000 after purchasing an additional 403 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Customers Bancorp by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank's stock worth $820,000 after purchasing an additional 645 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Customers Bancorp during the fourth quarter worth $46,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CUBI has been the topic of several analyst reports. DA Davidson raised their price objective on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 28th. B. Riley raised their price objective on Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Stephens raised their price objective on Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.25.

Customers Bancorp Stock Up 5.0%

Customers Bancorp stock traded up $3.2790 during trading on Friday, reaching $68.7290. 413,174 shares of the company's stock were exchanged, compared to its average volume of 335,304. The company's 50-day moving average is $62.04 and its two-hundred day moving average is $54.82. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 17.01 and a beta of 1.59. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $69.42. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 11.98% and a net margin of 10.77%.The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. On average, analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Customers Bancorp 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.