9,351 Shares in Customers Bancorp, Inc $CUBI Bought by Inceptionr LLC

Inceptionr LLC acquired a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,351 shares of the bank’s stock, valued at approximately $649,000.

Other hedge funds have also recently bought and sold shares of the company. Arax Advisory Partners lifted its position in shares of Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after purchasing an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp in the 3rd quarter worth about $29,000. Bessemer Group Inc. grew its position in Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after purchasing an additional 232 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Customers Bancorp in the 1st quarter valued at about $37,000. Finally, Transamerica Financial Advisors LLC increased its stake in Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after buying an additional 404 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CUBI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. DA Davidson lifted their price target on Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Morgan Stanley boosted their price objective on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Hovde Group upped their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler raised their target price on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. One investment 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. Based on data from MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.62.

Customers Bancorp Trading Up 0.5%

NYSE:CUBI opened at $76.50 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $2.59 billion, a PE ratio of 9.33 and a beta of 1.48. The firm’s 50 day moving average is $76.40 and its 200 day moving average is $74.52. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $82.56.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. The business had revenue of $227.28 million for the quarter, compared to the consensus estimate of $229.24 million. Customers Bancorp had a return on equity of 13.98% and a net margin of 19.07%.Customers Bancorp’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. Sell-side analysts expect that Customers Bancorp, Inc will post 8.37 earnings per share for the current year.

Insider Transactions at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 60,315 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total value of $4,597,812.45. Following the sale, the chairman directly owned 767,557 shares in the company, valued at approximately $58,510,870.11. The trade was a 7.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the sale, the executive vice president directly owned 43,993 shares in the company, valued at approximately $3,328,950.31. This trade represents a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.45% of the stock is owned by corporate 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.