Empowered Funds LLC Takes Position in Customers Bancorp, Inc $CUBI

Empowered Funds LLC bought a new stake in shares of Customers Bancorp, Inc (NYSE:CUBI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 158,088 shares of the bank’s stock, valued at approximately $12,505,000. Empowered Funds LLC owned approximately 0.47% of Customers Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CUBI. Arax Advisory Partners lifted its stake in Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after purchasing an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Customers Bancorp in the third quarter valued at $29,000. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp in the first quarter valued at $37,000. Bessemer Group Inc. boosted its stake in shares of Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after acquiring an additional 232 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Customers Bancorp in the 2nd quarter worth $40,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Customers Bancorp

In other news, Chairman Jay S. Sidhu sold 68,821 shares of the firm’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 transaction, the chairman owned 667,757 shares in the company, valued at approximately $53,480,658.13. This trade represents a 9.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 100,000 shares of company stock worth $7,981,084. 10.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. DA Davidson boosted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock 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 report on Monday, June 29th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. lifted their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.69.

Customers Bancorp Price Performance

CUBI opened at $78.57 on Friday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 9.58 and a beta of 1.49. Customers Bancorp, Inc has a 1 year low of $59.34 and a 1 year 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 stock has a fifty day moving average price of $79.08 and a 200 day moving average price of $75.00.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same period last year, the business earned $1.80 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts forecast that Customers Bancorp, Inc will post 8.43 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.