Squarepoint Ops LLC Buys 39,215 Shares of Customers Bancorp, Inc $CUBI

Squarepoint Ops LLC raised its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 39.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,530 shares of the bank’s stock after purchasing an additional 39,215 shares during the quarter. Squarepoint Ops LLC owned approximately 0.41% of Customers Bancorp worth $10,879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its stake in Customers Bancorp by 11.5% in the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock worth $269,000 after buying an additional 553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Customers Bancorp by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock worth $885,000 after acquiring an additional 786 shares during the period. Millennium Management LLC raised its position in shares of Customers Bancorp by 71.4% in the 1st 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 in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp in the 1st quarter worth approximately $37,000. Finally, Creative Planning purchased a new position in shares of Customers Bancorp in the 2nd quarter valued at approximately $250,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CUBI shares. Piper Sandler raised their price objective on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Fundamental Research set a $94.00 target price on shares of Customers Bancorp in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Finally, DA Davidson boosted their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average target price of $90.77.

Insider Activity

In other news, Chairman Jay 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 value of $5,511,873.89. Following the transaction, the chairman owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 100,000 shares of company stock worth $7,981,084 in the last quarter. Company insiders own 10.45% of the company’s stock.

Customers Bancorp Price Performance

NYSE CUBI opened at $78.17 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $84.38. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 9.53 and a beta of 1.47. The company’s 50 day moving average is $79.10 and its two-hundred day moving average is $75.36.

Customers Bancorp (NYSE:CUBI) last announced 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 firm 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 company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $1.80 EPS. As a group, research analysts anticipate that Customers Bancorp, Inc will post 8.43 earnings per share for the current 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.