State of Alaska Department of Revenue Has $1.03 Million Stock Position in Customers Bancorp, Inc $CUBI

State of Alaska Department of Revenue raised its stake in Customers Bancorp, Inc (NYSE:CUBI) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,480 shares of the bank’s stock after buying an additional 1,326 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Customers Bancorp worth $1,026,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Customers Bancorp by 34.3% during the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after purchasing an additional 902,406 shares during the last quarter. Nuveen LLC acquired a new position in shares of Customers Bancorp during the 1st quarter worth about $26,652,000. Millennium Management LLC boosted its stake in shares of Customers Bancorp by 71.4% during the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after buying an additional 114,430 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Customers Bancorp by 1,866.5% in the 1st quarter. SG Americas Securities LLC now owns 109,713 shares of the bank’s stock valued at $5,508,000 after acquiring an additional 104,134 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Customers Bancorp by 6,283.2% in the first quarter. GAMMA Investing LLC now owns 94,727 shares of the bank’s stock valued at $4,755,000 after acquiring an additional 93,243 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

CUBI has been the topic of several analyst reports. Cowen began coverage on shares of Customers Bancorp in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Customers Bancorp in a report on Saturday, September 27th. Wall Street Zen upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Keefe, Bruyette & Woods boosted their price target on Customers Bancorp from $71.00 to $76.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Finally, DA Davidson raised their price objective on Customers Bancorp from $69.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.88.

Customers Bancorp Price Performance

Shares of CUBI opened at $64.50 on Monday. The business has a 50-day moving average of $66.63 and a 200-day moving average of $57.90. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $72.51. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.97 and a beta of 1.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98.

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