Public Sector Pension Investment Board Grows Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Public Sector Pension Investment Board boosted its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,656 shares of the bank’s stock after buying an additional 4,651 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.20% of Customers Bancorp worth $3,006,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new position in shares of Customers Bancorp in the second quarter worth about $2,508,000. Hillsdale Investment Management Inc. purchased a new position in Customers Bancorp in the 1st quarter worth approximately $4,266,000. Intech Investment Management LLC acquired a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $698,000. SG Americas Securities LLC boosted its holdings in shares of Customers Bancorp by 208.5% during the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock worth $1,148,000 after purchasing an additional 14,621 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Customers Bancorp in the first quarter valued at approximately $1,333,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CUBI. DA Davidson boosted their price objective on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their price target on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, B. Riley increased their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $62.25.

Insider Activity at Customers Bancorp

In other news, CEO Samvir S. Sidhu bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the purchase, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.92% of the company’s stock.

Customers Bancorp Price Performance

Shares of CUBI opened at $45.38 on Friday. The firm has a 50-day simple moving average of $51.46 and a two-hundred day simple moving average of $49.80. 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, Inc. has a 1-year low of $31.16 and a 1-year high of $68.49. The stock has a market cap of $1.43 billion, a PE ratio of 6.34 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts forecast that Customers Bancorp, Inc. will post 6.34 EPS 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.