33,161 Shares in Customers Bancorp, Inc $CUBI Acquired by Deutsche Bank AG

Deutsche Bank AG purchased a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 33,161 shares of the bank’s stock, valued at approximately $2,623,000.

Several other large investors also recently bought and sold shares of CUBI. Arax Advisory Partners increased its stake in shares of Customers Bancorp by 218.9% in the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after acquiring an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Customers Bancorp during the 3rd quarter valued at about $29,000. Bessemer Group Inc. grew its holdings in shares of Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after purchasing an additional 232 shares during the period. Versant Capital Management Inc grew its holdings in shares of Customers Bancorp by 41.0% in the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after purchasing an additional 163 shares during the period. Finally, Transamerica Financial Advisors LLC increased its position in Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CUBI. JPMorgan Chase & Co. raised their price target on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Piper Sandler increased their price objective on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. DA Davidson lifted their target price on Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. 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’s stock. Based on data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and an average target price of $90.69.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $79.14 on Friday. The stock’s 50-day moving average is $79.02 and its two-hundred day moving average is $74.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00. Customers Bancorp, Inc has a 1 year low of $59.34 and a 1 year high of $84.38. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 9.65 and a beta of 1.49.

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

Insider Transactions at Customers Bancorp

In other news, Chairman Jay S. Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction 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 owned 667,757 shares of the company’s stock, valued at $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 100,000 shares of company stock worth $7,981,084 in the last quarter. 10.45% of the stock is currently owned by company insiders.

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.