Russell Investments Group Ltd. Increases Position in Customers Bancorp, Inc $CUBI

Russell Investments Group Ltd. lifted its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 5.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 80,652 shares of the bank’s stock after buying an additional 3,958 shares during the period. Russell Investments Group Ltd. owned 0.26% of Customers Bancorp worth $4,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $46,000. GAMMA Investing LLC increased its position in Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock worth $95,000 after purchasing an additional 403 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Customers Bancorp during the fourth quarter worth approximately $202,000. EP Wealth Advisors LLC acquired a new position in Customers Bancorp during the fourth quarter worth approximately $205,000. Finally, Teacher Retirement System of Texas acquired a new position in Customers Bancorp during the first quarter worth approximately $219,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CUBI shares. B. Riley upped their price target on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Stephens upped their price target on shares of Customers Bancorp from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. DA Davidson upped their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Customers Bancorp from $70.00 to $71.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.25.

Customers Bancorp Price Performance

CUBI opened at $68.7290 on Friday. The company has a fifty day simple moving average of $62.04 and a 200 day simple moving average of $54.84. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 17.01 and a beta of 1.59. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $69.42. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $206.31 million during the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.49 EPS. Equities research analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp 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.