Customers Bancorp, Inc. (NYSE:CUBI) Shares Bought by Inspire Investing LLC

Inspire Investing LLC lifted its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 22.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,929 shares of the bank’s stock after buying an additional 1,626 shares during the period. Inspire Investing LLC’s holdings in Customers Bancorp were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CUBI. CWM LLC raised its position in Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares in the last quarter. GAMMA Investing LLC grew its stake 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 worth $73,000 after purchasing an additional 282 shares during the period. SG Americas Securities LLC purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $244,000. Sanctuary Advisors LLC acquired a new stake in shares of Customers Bancorp in the second quarter valued at about $391,000. Finally, Algert Global LLC boosted its holdings in Customers Bancorp by 2.9% during the second quarter. Algert Global LLC now owns 83,312 shares of the bank’s stock worth $3,997,000 after buying an additional 2,335 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CUBI. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Friday, August 9th. B. Riley lifted their price objective on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group lowered their target price on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, DA Davidson boosted their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp stock in a transaction on Tuesday, August 13th. The shares were bought 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 directly owns 144,504 shares in the company, valued at $6,579,267.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.92% of the stock is owned by corporate insiders.

Customers Bancorp Stock Down 0.8 %

CUBI opened at $47.80 on Wednesday. The firm has a market cap of $1.50 billion, a P/E ratio of 6.68 and a beta of 1.61. The business’s fifty day simple moving average is $47.73 and its 200 day simple moving average is $49.28. Customers Bancorp, Inc. has a 52 week low of $31.16 and a 52 week high of $68.49. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $1.65 EPS. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 6.11 EPS for the current fiscal year.

About Customers Bancorp

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.