Heartland Advisors Inc. Has $11.85 Million Stake in Customers Bancorp, Inc $CUBI

Heartland Advisors Inc. decreased its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,775 shares of the bank’s stock after selling 12,100 shares during the quarter. Heartland Advisors Inc.’s holdings in Customers Bancorp were worth $11,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CUBI. Price T Rowe Associates Inc. MD increased its stake in shares of Customers Bancorp by 3,074.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock valued at $63,732,000 after buying an additional 844,141 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Customers Bancorp by 213.0% in the first quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after buying an additional 529,987 shares during the last quarter. Anatole Investment Management Ltd acquired a new position in Customers Bancorp during the 2nd quarter worth about $17,593,000. Millennium Management LLC lifted its position in Customers Bancorp by 448.8% during the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after buying an additional 268,056 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after acquiring an additional 222,546 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 60,315 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the completion of the sale, the chairman directly owned 767,557 shares of the company’s stock, valued at $58,510,870.11. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Philip Watkins sold 3,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the completion of the transaction, the executive vice president owned 43,993 shares in the company, valued at $3,328,950.31. This represents a 6.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.45% of the stock is owned by corporate insiders.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $78.15 on Friday. The stock has a 50-day moving average price of $76.08 and a 200 day moving average price of $74.42. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 9.92 and a beta of 1.48. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The company had revenue of $225.40 million for the quarter, compared to the consensus estimate of $223.51 million. During the same period in the prior year, the company posted $1.54 EPS. The company’s revenue was up 57.9% compared to the same quarter last year. Research analysts expect that Customers Bancorp, Inc will post 8.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CUBI shares. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Morgan Stanley upped their target price on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. DA Davidson increased their price target on shares of Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Hovde Group raised their price target on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Finally, Fundamental Research set a $94.00 price objective on shares of Customers Bancorp in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.62.

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.