Inspire Investing LLC Boosts Position in Customers Bancorp, Inc. (NYSE:CUBI)

Inspire Investing LLC raised its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 8.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,303 shares of the bank’s stock after buying an additional 557 shares during the quarter. Inspire Investing LLC’s holdings in Customers Bancorp were worth $350,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in Customers Bancorp during the 2nd quarter valued at about $48,000. Innealta Capital LLC purchased a new position in Customers Bancorp during the 2nd quarter valued at about $74,000. Ashton Thomas Private Wealth LLC purchased a new position in Customers Bancorp during the 2nd quarter valued at about $151,000. Aigen Investment Management LP bought a new stake in shares of Customers Bancorp during the 4th quarter valued at about $209,000. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Customers Bancorp during the 4th quarter valued at about $218,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $47.03 on Tuesday. The business has a 50 day moving average of $52.83 and a 200 day moving average of $50.02. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 6.57 and a beta of 1.62. Customers Bancorp, Inc. has a 1-year low of $31.16 and a 1-year high of $68.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The firm had revenue of $198.69 million during the quarter, compared to the consensus estimate of $184.40 million. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that Customers Bancorp, Inc. will post 6.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu acquired 2,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the transaction, the chief executive officer now owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CUBI shares. Keefe, Bruyette & Woods dropped their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wedbush lifted their price target on Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Jefferies Financial Group dropped their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. B. Riley lifted their price target on Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, DA Davidson lifted their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.50.

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.