Federated Hermes Inc. Buys 134,638 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Federated Hermes Inc. grew its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 3,784.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 138,196 shares of the bank’s stock after purchasing an additional 134,638 shares during the period. Federated Hermes Inc.’s holdings in Customers Bancorp were worth $7,963,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BluePath Capital Management LLC bought a new stake in Customers Bancorp during the 3rd quarter worth approximately $31,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Customers Bancorp by 14.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,796 shares of the bank’s stock valued at $303,000 after acquiring an additional 1,125 shares in the last quarter. Wakefield Asset Management LLLP grew its holdings in shares of Customers Bancorp by 9.3% in the fourth quarter. Wakefield Asset Management LLLP now owns 21,920 shares of the bank’s stock valued at $1,263,000 after acquiring an additional 1,859 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Customers Bancorp by 58.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 5,455 shares of the bank’s stock valued at $322,000 after acquiring an additional 2,004 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Customers Bancorp in the third quarter valued at approximately $87,000. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CUBI. B. Riley upped their target price on Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a report on Monday, January 29th. Raymond James upped their target price on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Jefferies Financial Group upped their price objective on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Wedbush dropped their price objective on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Two 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.com, Customers Bancorp presently has an average rating of “Moderate Buy” and an average price target of $61.86.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $50.07 on Thursday. Customers Bancorp, Inc. has a one year low of $15.80 and a one year high of $60.09. The business has a fifty day moving average price of $51.68 and a 200-day moving average price of $48.88. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91. The firm has a market capitalization of $1.58 billion, a P/E ratio of 6.85 and a beta of 1.67.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The firm had revenue of $191.18 million during the quarter, compared to analyst estimates of $187.87 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. As a group, equities research analysts forecast that Customers Bancorp, Inc. will post 6.85 EPS for the current year.

Insider Activity at Customers Bancorp

In related news, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Customers Bancorp news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the completion of the sale, the insider now owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by corporate insiders.

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.