Meeder Asset Management Inc. Takes $8.89 Million Position in Customers Bancorp, Inc $CUBI

Meeder Asset Management Inc. acquired a new stake in Customers Bancorp, Inc (NYSE:CUBI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 112,372 shares of the bank’s stock, valued at approximately $8,889,000. Meeder Asset Management Inc. owned about 0.33% of Customers Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arax Advisory Partners grew its position in 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 during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Customers Bancorp in the third quarter worth $29,000. Bessemer Group Inc. raised its holdings in shares of Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after buying an additional 232 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Customers Bancorp in the first quarter worth $37,000. Finally, Transamerica Financial Advisors LLC lifted its stake in shares of Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after buying an additional 404 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. DA Davidson boosted their price objective on shares of Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. Morgan Stanley raised their target price on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research report on Wednesday, July 1st. JPMorgan Chase & Co. lifted their price target on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler boosted their price target on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $90.69.

Customers Bancorp Stock Performance

CUBI opened at $81.91 on Tuesday. Customers Bancorp, Inc has a 12-month low of $59.34 and a 12-month high of $84.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $2.77 billion, a PE ratio of 9.99 and a beta of 1.49. The firm has a 50 day moving average of $78.55 and a two-hundred day moving average of $74.90.

Customers Bancorp (NYSE:CUBI) last released 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 net margin of 19.07% and a return on equity of 13.80%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. On average, analysts anticipate that Customers Bancorp, Inc will post 8.43 EPS for the current year.

Insider Activity

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the completion of the transaction, the chairman directly owned 667,757 shares in the company, valued at $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 160,315 shares of company stock worth $12,578,896 over the last three months. Company insiders own 10.45% of the company’s stock.

Customers Bancorp Profile

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.