Sanctuary Advisors LLC Takes Position in Customers Bancorp, Inc. (NYSE:CUBI)

Sanctuary Advisors LLC bought a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,346 shares of the bank’s stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Customers Bancorp by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after buying an additional 111,654 shares in the last quarter. American Century Companies Inc. raised its position in shares of Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock valued at $32,954,000 after buying an additional 87,557 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of Customers Bancorp by 94.3% during the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after buying an additional 266,462 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Customers Bancorp by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 261,907 shares of the bank’s stock valued at $12,566,000 after buying an additional 829 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Trading Down 0.2 %

Shares of NYSE CUBI opened at $47.94 on Friday. 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 $1.51 billion, a P/E ratio of 6.70 and a beta of 1.61. The firm has a 50-day moving average of $47.62 and a 200 day moving average of $49.26. 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 (NYSE:CUBI) last issued its quarterly 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. The company had revenue of $198.69 million during 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%. Customers Bancorp’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. As a group, sell-side analysts expect that Customers Bancorp, Inc. will post 6.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research report on Friday, August 9th. Keefe, Bruyette & Woods reduced their target price 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. Raymond James reduced their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Finally, DA Davidson raised their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Insiders Place Their Bets

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the purchase, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.92% of the company’s stock.

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.