GAMMA Investing LLC Increases Stake in Customers Bancorp, Inc. (NYSE:CUBI)

GAMMA Investing LLC lifted its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 21.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,580 shares of the bank’s stock after buying an additional 282 shares during the quarter. GAMMA Investing LLC’s holdings in Customers Bancorp were worth $73,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Louisiana State Employees Retirement System lifted its holdings 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 during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Customers Bancorp by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock worth $994,000 after acquiring an additional 341 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Customers Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after acquiring an additional 353 shares during the period. ProShare Advisors LLC grew its position 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 acquiring an additional 398 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Customers Bancorp by 10.4% in the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock worth $281,000 after purchasing an additional 549 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CUBI. Jefferies Financial Group cut their price target on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Friday, August 9th. DA Davidson increased 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. B. Riley lifted their target price 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, Raymond James lowered their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Customers Bancorp Trading Down 0.8 %

Shares of NYSE:CUBI opened at $47.80 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.50 billion, a PE ratio of 6.68 and a beta of 1.61. Customers Bancorp, Inc. has a 12-month low of $31.16 and a 12-month high of $68.49. The business’s fifty day simple moving average is $47.73 and its 200-day simple moving average is $49.28.

Customers Bancorp (NYSE:CUBI) last announced its 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 net margin of 17.38% and a return on equity of 17.09%. The business had revenue of $198.69 million during the quarter, compared to the consensus estimate of $184.40 million. During the same period in the previous year, the company posted $1.65 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Customers Bancorp, Inc. will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.92% of the stock is owned by insiders.

Customers Bancorp Company 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.