Denali Advisors LLC Raises Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Denali Advisors LLC lifted its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 37.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 47,044 shares of the bank’s stock after acquiring an additional 12,700 shares during the quarter. Denali Advisors LLC’s holdings in Customers Bancorp were worth $2,257,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CUBI. Wedge Capital Management L L P NC acquired a new position in shares of Customers Bancorp in the 2nd quarter valued at $2,508,000. Hillsdale Investment Management Inc. acquired a new position in shares of Customers Bancorp in the 1st quarter valued at $4,266,000. SG Americas Securities LLC increased its holdings in shares of Customers Bancorp by 208.5% in the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 14,621 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Customers Bancorp in the 1st quarter valued at $1,333,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Customers Bancorp by 252.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 253,954 shares of the bank’s stock valued at $12,185,000 after acquiring an additional 181,819 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Transactions at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $45.53 per share, with a total value of $113,825.00. Following the purchase, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Performance

Shares of CUBI opened at $48.45 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $1.53 billion, a P/E ratio of 6.77 and a beta of 1.62. The company’s fifty day moving average is $53.46 and its two-hundred day moving average is $50.27. Customers Bancorp, Inc. has a 1 year low of $31.16 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The company had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $184.40 million. During the same period in the previous year, the company posted $1.65 EPS. Customers Bancorp’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Customers Bancorp, Inc. will post 6.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group cut their target price on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. B. Riley lifted their target price on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 29th. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Friday, August 9th. Finally, Wedbush boosted their price objective on shares of Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.