Empowered Funds LLC Purchases 1,072 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Empowered Funds LLC increased its position in Customers Bancorp, Inc. (NYSE:CUBI) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,640 shares of the bank’s stock after purchasing an additional 1,072 shares during the period. Empowered Funds LLC owned approximately 0.07% of Customers Bancorp worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CUBI. Ridgewood Investments LLC purchased a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $48,000. Innealta Capital LLC bought a new position in shares of Customers Bancorp during the 2nd quarter valued at approximately $74,000. GAMMA Investing LLC boosted its position in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the last quarter. CWM LLC boosted its position in shares of Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after acquiring an additional 274 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Customers Bancorp during the 2nd quarter valued at $151,000. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. DA Davidson increased their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price target for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Piper Sandler dropped their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. StockNews.com downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Stephens raised their price objective on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.11.

Insider Transactions at Customers Bancorp

In related news, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now directly owns 66,256 shares in the company, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock worth $5,425,815 over the last three months. 6.92% of the stock is currently owned by insiders.

Customers Bancorp Trading Up 1.5 %

Shares of NYSE:CUBI opened at $56.09 on Friday. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 9.11 and a beta of 1.61. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $48.31 and a 200-day moving average price of $49.47.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter in the previous year, the business earned $2.59 earnings per share. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. Equities analysts predict that Customers Bancorp, Inc. will post 5.63 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.