10,238 Shares in Customers Bancorp, Inc $CUBI Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC purchased a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,238 shares of the bank’s stock, valued at approximately $810,000.

A number of other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Customers Bancorp by 11.5% in the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after buying an additional 553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Customers Bancorp by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock worth $885,000 after acquiring an additional 786 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Customers Bancorp by 71.4% during the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after acquiring an additional 114,430 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Customers Bancorp in the 1st quarter valued at $37,000. Finally, Creative Planning bought a new stake in Customers Bancorp in the 2nd quarter valued at $250,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CUBI shares. JPMorgan Chase & Co. raised their price target on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Piper Sandler increased their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Hovde Group raised their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. Finally, DA Davidson lifted their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. One investment 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 company. According to MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $90.69.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $79.84 on Friday. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $84.38. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. The company has a 50-day simple moving average of $78.79 and a two-hundred day simple moving average of $74.97. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 9.74 and a beta of 1.49.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same quarter in the previous year, the firm posted $1.80 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Customers Bancorp, Inc will post 8.43 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the sale, the chairman directly owned 667,757 shares in the company, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 160,315 shares of company stock valued at $12,578,896 in the last three months. 10.45% of the stock is currently owned by insiders.

About Customers Bancorp

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.