CenterBook Partners LP Has $1.82 Million Position in Customers Bancorp, Inc $CUBI

CenterBook Partners LP increased its position in Customers Bancorp, Inc (NYSE:CUBI) by 77.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,789 shares of the bank’s stock after purchasing an additional 12,101 shares during the quarter. CenterBook Partners LP owned approximately 0.09% of Customers Bancorp worth $1,817,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CUBI. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp during the 1st quarter worth about $37,000. Farther Finance Advisors LLC raised its holdings in Customers Bancorp by 63.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after acquiring an additional 260 shares during the period. CX Institutional acquired a new stake in Customers Bancorp during the third quarter worth approximately $67,000. Smartleaf Asset Management LLC lifted its position in Customers Bancorp by 17.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after acquiring an additional 256 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Customers Bancorp by 24.8% during the second quarter. Osaic Holdings Inc. now owns 2,121 shares of the bank’s stock worth $124,000 after acquiring an additional 421 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 128,185 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares in the company, valued at $54,851,852.33. This represents a 13.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Philip Watkins sold 2,900 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $65.04, for a total transaction of $188,616.00. Following the completion of the sale, the executive vice president owned 50,849 shares in the company, valued at $3,307,218.96. This represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 138,564 shares of company stock worth $9,612,479. 8.69% of the stock is currently owned by corporate insiders.

Customers Bancorp Trading Down 2.7%

Shares of CUBI stock opened at $71.76 on Friday. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $82.56. The stock’s fifty day moving average price is $76.03 and its two-hundred day moving average price is $70.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $2.45 billion, a PE ratio of 11.57 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $236.90 million during the quarter, compared to analysts’ expectations of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same quarter in the previous year, the firm earned $1.36 EPS. Equities analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CUBI. DA Davidson boosted their target price on shares of Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Hovde Group boosted their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. Zacks Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Finally, Morgan Stanley started coverage on Customers Bancorp in a research report on Monday, December 8th. They set an “equal weight” rating and a $90.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $87.80.

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.