Access Investment Management LLC Makes New Investment in Customers Bancorp, Inc $CUBI

Access Investment Management LLC acquired a new position in Customers Bancorp, Inc (NYSE:CUBI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 114,415 shares of the bank’s stock, valued at approximately $6,721,000. Customers Bancorp accounts for approximately 1.9% of Access Investment Management LLC’s investment portfolio, making the stock its 18th largest position. Access Investment Management LLC owned 0.36% of Customers Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in Customers Bancorp during the 1st quarter valued at about $37,000. GAMMA Investing LLC boosted its holdings in shares of Customers Bancorp by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after buying an additional 403 shares during the period. Corton Capital Inc. bought a new stake in Customers Bancorp in the 2nd quarter valued at approximately $207,000. Ground Swell Capital LLC bought a new position in Customers Bancorp in the first quarter valued at approximately $208,000. Finally, Teacher Retirement System of Texas bought a new position in Customers Bancorp during the first quarter worth about $219,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Trading Down 0.1%

Shares of Customers Bancorp stock opened at $67.21 on Monday. The stock has a market capitalization of $2.13 billion, a PE ratio of 13.63 and a beta of 1.64. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $72.51. The company’s fifty day simple moving average is $67.03 and its 200-day simple moving average is $60.53. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. The firm had revenue of $206.82 million during the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. As a group, equities analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on CUBI shares. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. B. Riley restated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. National Bankshares set a $89.00 price objective on shares of Customers Bancorp in a report on Wednesday, September 24th. Zacks Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Stephens upped their price objective on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $79.78.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.