Wakefield Asset Management LLLP Makes New $1.22 Million Investment in Customers Bancorp, Inc $CUBI

Wakefield Asset Management LLLP acquired a new position in Customers Bancorp, Inc (NYSE:CUBI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,701 shares of the bank’s stock, valued at approximately $1,221,000.

Several other institutional investors have also added to or reduced their stakes in CUBI. Anatole Investment Management Ltd bought a new stake in Customers Bancorp in the second quarter worth about $17,593,000. Millennium Management LLC lifted its stake in Customers Bancorp by 448.8% in the third quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after purchasing an additional 268,056 shares during the last quarter. Emerald Advisers LLC bought a new stake in Customers Bancorp in the third quarter worth about $15,150,000. Northwestern Mutual Wealth Management Co. lifted its stake in Customers Bancorp by 247,273.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after purchasing an additional 222,546 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Customers Bancorp by 3,173.3% in the third quarter. Balyasny Asset Management L.P. now owns 158,429 shares of the bank’s stock worth $10,357,000 after purchasing an additional 153,589 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CUBI shares. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a research report on Monday, January 26th. Zacks Research lowered shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Wall Street Zen lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Stephens raised shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 target price on the stock in a research report on Monday, March 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $86.00 target price (up from $82.00) on shares of Customers Bancorp in a research report on Monday, April 27th. 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’s stock. Based on data from MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI opened at $72.38 on Friday. The firm has a market cap of $2.45 billion, a PE ratio of 9.19 and a beta of 1.52. The firm’s 50 day simple moving average is $72.05 and its 200-day simple moving average is $72.39. Customers Bancorp, Inc has a one year low of $49.54 and a one year high of $82.56. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.09. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The company’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same period last year, the company posted $1.54 earnings per share. As a group, equities analysts predict that Customers Bancorp, Inc will post 8.52 EPS for the current year.

Customers Bancorp declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Customers Bancorp

In related news, EVP Philip Watkins sold 3,000 shares of Customers Bancorp stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the transaction, the executive vice president directly owned 43,993 shares of the company’s stock, valued at $3,328,950.31. This trade represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Samvir S. Sidhu acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the acquisition, the chief executive officer owned 521,714 shares of the company’s stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 10.45% of the company’s stock.

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.