Envestnet Portfolio Solutions Inc. Purchases New Shares in Customers Bancorp, Inc $CUBI

Envestnet Portfolio Solutions Inc. purchased a new stake in Customers Bancorp, Inc (NYSE:CUBI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,116 shares of the bank’s stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CUBI. Wellington Management Group LLP raised its position in Customers Bancorp by 34.3% in the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock valued at $177,349,000 after buying an additional 902,406 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Customers Bancorp during the 1st quarter valued at $26,652,000. Millennium Management LLC increased its position 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 valued at $13,791,000 after purchasing an additional 114,430 shares during the last quarter. Trexquant Investment LP increased its position in shares of Customers Bancorp by 207.1% during the 1st quarter. Trexquant Investment LP now owns 107,559 shares of the bank’s stock valued at $5,399,000 after purchasing an additional 72,540 shares during the last quarter. Finally, Algert Global LLC increased its position in shares of Customers Bancorp by 185.4% during the 1st quarter. Algert Global LLC now owns 94,549 shares of the bank’s stock valued at $4,746,000 after purchasing an additional 61,422 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Trading Down 1.5%

Shares of CUBI opened at $63.98 on Thursday. The business has a 50-day moving average of $66.84 and a 200 day moving average of $59.08. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51. The firm has a market cap of $2.02 billion, a P/E ratio of 15.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.The company had revenue of $206.82 million during the quarter. As a group, research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CUBI. DA Davidson raised their target price on Customers Bancorp from $69.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, July 28th. National Bankshares set a $89.00 target price on Customers Bancorp in a research report on Wednesday, September 24th. Keefe, Bruyette & Woods raised their target price on Customers Bancorp from $71.00 to $76.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. Zacks Research lowered Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Cowen started coverage on Customers Bancorp in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.88.

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.