Prudential Financial Inc. Acquires 9,400 Shares of Customers Bancorp, Inc $CUBI

Prudential Financial Inc. boosted its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,588 shares of the bank’s stock after buying an additional 9,400 shares during the quarter. Prudential Financial Inc.’s holdings in Customers Bancorp were worth $9,962,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position in Customers Bancorp by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank’s stock valued at $4,049,000 after purchasing an additional 3,958 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Customers Bancorp in the 2nd quarter valued at about $418,000. Allianz Asset Management GmbH grew its position in shares of Customers Bancorp by 34.9% in the 1st quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock worth $427,000 after buying an additional 2,200 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Customers Bancorp by 20.3% during the 1st quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock worth $3,377,000 after acquiring an additional 11,346 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Customers Bancorp by 15.8% during the second quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock valued at $5,857,000 after acquiring an additional 13,600 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

CUBI has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Customers Bancorp in a report on Monday. B. Riley restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Zacks Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Wall Street Zen raised Customers Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Hovde Group increased their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $82.88.

Customers Bancorp Stock Down 0.1%

Shares of CUBI stock opened at $68.90 on Friday. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51. The firm has a market capitalization of $2.35 billion, a PE ratio of 13.98 and a beta of 1.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50-day simple moving average is $66.24 and its 200-day simple moving average is $62.83.

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

Insider Activity

In related news, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $65.04, for a total transaction of $188,616.00. Following the completion of the transaction, the executive vice president directly owned 50,849 shares in the company, valued at $3,307,218.96. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bernard Bennett Banks sold 9,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $66.93, for a total transaction of $602,370.00. Following the completion of the sale, the director directly owned 7,524 shares in the company, valued at approximately $503,581.32. The trade was a 54.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 83,715 shares of company stock valued at $5,695,779 in the last ninety days. Insiders own 8.69% of the company’s stock.

Customers Bancorp Company Profile

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.