Ashton Thomas Private Wealth LLC Buys New Shares in Customers Bancorp, Inc. (NYSE:CUBI)

Ashton Thomas Private Wealth LLC bought a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,157 shares of the bank’s stock, valued at approximately $151,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in shares of Customers Bancorp by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after acquiring an additional 300 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Customers Bancorp by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after buying an additional 341 shares during the period. Texas Permanent School Fund Corp increased its stake in Customers Bancorp by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after buying an additional 353 shares during the period. ProShare Advisors LLC increased its stake in Customers Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after buying an additional 398 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in Customers Bancorp by 4.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 16,066 shares of the bank’s stock valued at $852,000 after buying an additional 738 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the acquisition, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.92% of the company’s stock.

Analyst Upgrades and Downgrades

CUBI has been the topic of several research reports. DA Davidson upped their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. B. Riley upped their price objective 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. Wedbush upped their price objective on shares of Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods cut their price target on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Jefferies Financial Group decreased their price objective on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

Customers Bancorp Stock Up 1.3 %

CUBI opened at $48.35 on Friday. The business has a 50 day moving average price of $53.45 and a 200 day moving average price of $50.34. Customers Bancorp, Inc. has a twelve month low of $31.16 and a twelve month high of $68.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a market cap of $1.52 billion, a P/E ratio of 6.75 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $184.40 million. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research 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.