VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Customers Bancorp, Inc $CUBI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Customers Bancorp, Inc (NYSE:CUBI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 8,000 shares of the bank’s stock, valued at approximately $523,000.

A number of other hedge funds also recently modified their holdings of CUBI. Anatole Investment Management Ltd bought a new stake in shares of Customers Bancorp during the 2nd quarter worth about $17,593,000. Millennium Management LLC boosted its holdings in shares of Customers Bancorp by 71.4% during the first quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after acquiring an additional 114,430 shares during the period. Access Investment Management LLC bought a new stake in shares of Customers Bancorp during the second quarter worth approximately $6,721,000. Invesco Ltd. grew its position in shares of Customers Bancorp by 93.1% in the second quarter. Invesco Ltd. now owns 234,782 shares of the bank’s stock valued at $13,791,000 after purchasing an additional 113,172 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Customers Bancorp during the second quarter worth approximately $6,500,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Stock Up 2.0%

CUBI stock opened at $76.00 on Tuesday. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $78.33. The business has a 50-day simple moving average of $70.44 and a 200 day simple moving average of $66.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market cap of $2.60 billion, a PE ratio of 15.42 and a beta of 1.61.

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

Wall Street Analyst Weigh In

CUBI has been the topic of a number of research reports. National Bankshares set a $89.00 price objective on Customers Bancorp in a report on Wednesday, September 24th. Zacks Research downgraded shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. B. Riley reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. Raymond James Financial reiterated a “strong-buy” rating on shares of Customers Bancorp in a research note on Tuesday. Finally, TD Cowen increased their target price on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insider Activity at Customers Bancorp

In other news, Director Bernard Bennett Banks sold 9,000 shares of Customers Bancorp stock in a transaction on Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the transaction, the director owned 7,524 shares in the company, valued at approximately $503,581.32. This trade represents a 54.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the transaction, the executive vice president directly owned 50,849 shares of the company’s stock, valued at $3,307,218.96. This trade represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 211,900 shares of company stock valued at $14,595,664 over the last three months. 8.69% of the stock is owned by 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.