Thrivent Financial for Lutherans Grows Position in Customers Bancorp, Inc $CUBI

Thrivent Financial for Lutherans increased its position in Customers Bancorp, Inc (NYSE:CUBI) by 213.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,516 shares of the bank’s stock after buying an additional 45,299 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Customers Bancorp were worth $4,864,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp in the 3rd quarter worth $29,000. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp during the first quarter valued at about $37,000. Aster Capital Management DIFC Ltd raised its stake in shares of Customers Bancorp by 451.2% during the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after acquiring an additional 767 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Customers Bancorp by 17.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after purchasing an additional 256 shares during the period. Finally, KBC Group NV grew its stake in shares of Customers Bancorp by 59.7% in the fourth quarter. KBC Group NV now owns 1,595 shares of the bank’s stock worth $117,000 after purchasing an additional 596 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insider Activity

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price 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 in the company, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Philip Watkins sold 3,000 shares of the firm’s 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 represents a 6.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 10.45% of the company’s stock.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $75.65 on Friday. 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 firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 9.60 and a beta of 1.52. The stock has a fifty day moving average of $72.59 and a 200 day moving average of $72.60. Customers Bancorp, Inc has a 52 week low of $49.54 and a 52 week high of $82.56.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. As a group, research analysts expect that Customers Bancorp, Inc will post 8.52 earnings per share for the current year.

Customers Bancorp announced that its board has approved a share repurchase program on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CUBI shares. TD Cowen restated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Piper Sandler reiterated an “overweight” rating and issued a $86.00 price objective (up from $82.00) on shares of Customers Bancorp in a research report on Monday, April 27th. Maxim Group set a $100.00 target price on Customers Bancorp in a report on Monday, January 26th. JPMorgan Chase & Co. dropped their price target on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and an average target price of $87.50.

Customers Bancorp 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.