Putnam Investments LLC Purchases 6,335 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Putnam Investments LLC grew its position in shares of Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) by 17.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,279 shares of the bank’s stock after buying an additional 6,335 shares during the period. Putnam Investments LLC owned approximately 0.13% of Customers Bancorp worth $1,276,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Customers Bancorp by 3.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,783 shares of the bank’s stock worth $366,000 after buying an additional 328 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of Customers Bancorp by 1.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,354 shares of the bank’s stock worth $1,410,000 after purchasing an additional 398 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Customers Bancorp by 2.2% during the 2nd quarter. Texas Permanent School Fund now owns 21,931 shares of the bank’s stock worth $743,000 after purchasing an additional 464 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Customers Bancorp by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 73,595 shares of the bank’s stock worth $2,495,000 after purchasing an additional 486 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Customers Bancorp by 25.2% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,021 shares of the bank’s stock worth $89,000 after purchasing an additional 609 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other news, CEO Jay S. Sidhu purchased 45,450 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $11.00 per share, with a total value of $499,950.00. Following the completion of the purchase, the chief executive officer now owns 1,167,626 shares of the company’s stock, valued at approximately $12,843,886. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.75% of the company’s stock.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $17.42 on Tuesday. The stock’s 50-day simple moving average is $29.85 and its 200 day simple moving average is $30.94. The firm has a market capitalization of $550.47 million, a PE ratio of 2.69 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a twelve month low of $6.87 and a twelve month high of $59.97.

Customers Bancorp (NYSE:CUBI – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The bank reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.47). Customers Bancorp had a net margin of 24.85% and a return on equity of 21.40%. The firm had revenue of $142.48 million for the quarter, compared to analyst estimates of $169.85 million. On average, analysts anticipate that Customers Bancorp, Inc. will post 5.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CUBI has been the topic of several analyst reports. Stephens set a $45.00 target price on Customers Bancorp in a report on Wednesday, November 23rd. DA Davidson reissued a “buy” rating on shares of Customers Bancorp in a report on Wednesday, December 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $59.50.

About Customers Bancorp

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Customers Bancorp, Inc operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Customers Bank. It operates through the Customers Bank Business Banking and BankMobile segments. The Customers Bank Business Banking segment includes commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington, DC, and Illinois through a single-point-of-contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.