Hsbc Holdings PLC Purchases New Stake in Customers Bancorp, Inc $CUBI

Hsbc Holdings PLC acquired a new position in shares of Customers Bancorp, Inc (NYSE:CUBI) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,541 shares of the bank’s stock, valued at approximately $519,000.

Several other large investors have also recently bought and sold shares of the business. Arax Advisory Partners boosted its position in shares of Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after purchasing an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Customers Bancorp during the 3rd quarter worth $29,000. Jones Financial Companies Lllp purchased a new position in shares of Customers Bancorp in the 1st quarter valued at about $37,000. Transamerica Financial Advisors LLC increased its holdings in shares of 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 purchasing an additional 404 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $105,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In related news, Chairman Jay S. Sidhu sold 835 shares of Customers Bancorp stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $79.00, for a total transaction of $65,965.00. Following the completion of the transaction, the chairman directly owned 736,578 shares in the company, valued at $58,189,662. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Philip Watkins sold 3,000 shares of the company’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 value of $227,010.00. Following the completion of the sale, the executive vice president directly owned 43,993 shares in the company, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 94,494 shares of company stock worth $7,294,032 over the last ninety days. 10.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. DA Davidson boosted their price objective 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. Piper Sandler lifted their price target 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. Morgan Stanley lifted their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. upped their price target on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.15.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $78.61 on Friday. The firm has a market capitalization of $2.66 billion, a PE ratio of 9.59 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. The firm’s 50-day simple moving average is $76.83 and its 200 day simple moving average is $74.55. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.05. The firm had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.80 EPS. On average, equities research analysts predict that Customers Bancorp, Inc will post 8.38 EPS for the current fiscal year.

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.