Walleye Capital LLC Buys Shares of 28,507 Customers Bancorp, Inc $CUBI

Walleye Capital LLC purchased a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 28,507 shares of the bank’s stock, valued at approximately $1,979,000. Walleye Capital LLC owned about 0.08% of Customers Bancorp as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Customers Bancorp by 5.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 421,852 shares of the bank’s stock valued at $31,428,000 after buying an additional 23,129 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Customers Bancorp by 247,273.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after buying an additional 222,546 shares during the period. Tudor Investment Corp ET AL raised its holdings in Customers Bancorp by 247.1% in the third quarter. Tudor Investment Corp ET AL now owns 90,102 shares of the bank’s stock valued at $5,890,000 after acquiring an additional 64,141 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Customers Bancorp by 213.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank’s stock valued at $4,864,000 after acquiring an additional 45,299 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Customers Bancorp in the fourth quarter valued at approximately $1,534,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CUBI. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Piper Sandler raised their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Hovde Group lifted their price objective on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. Morgan Stanley boosted their target price on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. increased their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $89.62.

Customers Bancorp Stock Performance

Shares of CUBI opened at $76.00 on Friday. The stock has a 50 day moving average price of $76.31 and a 200 day moving average price of $74.51. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 9.64 and a beta of 1.48. Customers Bancorp, Inc has a 52-week low of $59.34 and a 52-week high of $82.56.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The company had revenue of $227.28 million for the quarter, compared to analyst estimates of $229.24 million. During the same period in the prior year, the firm posted $1.80 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts predict that Customers Bancorp, Inc will post 8.35 EPS for the current fiscal year.

Insider Activity

In related news, CEO Samvir S. Sidhu bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $72.58 per share, with a total value of $72,580.00. Following the transaction, the chief executive officer directly owned 521,714 shares of the company’s stock, valued at approximately $37,866,002.12. This represents a 0.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman owned 767,557 shares in the company, valued at $58,510,870.11. This represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale 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.