Customers Bancorp, Inc $CUBI Stock Position Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 29.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,919 shares of the bank’s stock after buying an additional 65,382 shares during the quarter. Assenagon Asset Management S.A. owned about 0.92% of Customers Bancorp worth $19,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CUBI. Hood River Capital Management LLC increased its stake in shares of Customers Bancorp by 1.6% during the second quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock valued at $89,462,000 after acquiring an additional 23,416 shares during the period. American Century Companies Inc. boosted its stake in Customers Bancorp by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 876,625 shares of the bank’s stock valued at $51,493,000 after purchasing an additional 46,602 shares in the last quarter. Geode Capital Management LLC boosted its stake in Customers Bancorp by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 695,204 shares of the bank’s stock valued at $40,841,000 after purchasing an additional 2,494 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Customers Bancorp by 9.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 435,637 shares of the bank’s stock valued at $25,589,000 after purchasing an additional 37,309 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Customers Bancorp by 16.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 369,795 shares of the bank’s stock worth $22,975,000 after buying an additional 52,211 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Customers Bancorp news, Director Bernard Bennett Banks sold 9,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the completion of the sale, the director owned 7,524 shares of the company’s stock, valued at $503,581.32. The trade was a 54.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 128,185 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total value of $8,899,884.55. Following the sale, the chief executive officer owned 790,031 shares of the company’s stock, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 211,900 shares of company stock worth $14,595,664. Corporate insiders own 8.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CUBI shares. B. Riley reiterated a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. Stephens boosted their target price on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. DA Davidson increased their target price on shares of Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Morgan Stanley began coverage on shares of Customers Bancorp in a research report on Monday, December 8th. They issued an “equal weight” rating and a $90.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Customers Bancorp Price Performance

Shares of CUBI opened at $76.06 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $2.60 billion, a PE ratio of 15.43 and a beta of 1.61. The firm’s 50 day moving average price is $68.27 and its 200 day moving average price is $64.89. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $78.33.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Monday, September 8th. The bank reported $1.80 EPS for the quarter. The company had revenue of $206.82 million during the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. As a group, research analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.