Tudor Investment Corp ET AL Boosts Holdings in Customers Bancorp, Inc $CUBI

Tudor Investment Corp ET AL increased its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 247.1% during the third quarter, Holdings Channel reports. The firm owned 90,102 shares of the bank’s stock after acquiring an additional 64,141 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Customers Bancorp were worth $5,890,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new position in Customers Bancorp in the 3rd quarter worth approximately $206,000. Caitong International Asset Management Co. Ltd purchased a new position in Customers Bancorp in the 3rd quarter worth approximately $29,000. CANADA LIFE ASSURANCE Co lifted its holdings in Customers Bancorp by 2.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 32,708 shares of the bank’s stock worth $2,142,000 after purchasing an additional 794 shares in the last quarter. PharVision Advisers LLC purchased a new position in Customers Bancorp in the 3rd quarter worth approximately $211,000. Finally, Voloridge Investment Management LLC lifted its holdings in Customers Bancorp by 33.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 163,004 shares of the bank’s stock worth $10,656,000 after purchasing an additional 41,194 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CUBI shares. Stephens raised Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target on the stock in a report on Monday, March 16th. TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Morgan Stanley lowered their price target on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Finally, Weiss Ratings raised Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.42.

Customers Bancorp Stock Performance

NYSE CUBI opened at $73.95 on Thursday. The company has a market cap of $2.53 billion, a P/E ratio of 11.93 and a beta of 1.57. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $70.81 and its 200-day moving average price is $70.53. Customers Bancorp, Inc has a fifty-two week low of $41.85 and a fifty-two week high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $236.90 million for the quarter, compared to the consensus estimate of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same quarter in the previous year, the company posted $1.36 EPS. Sell-side analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Customers Bancorp declared that its board has authorized a stock buyback plan on Wednesday, February 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.