Citigroup Inc. Has $3.10 Million Stock Holdings in Customers Bancorp, Inc $CUBI

Citigroup Inc. reduced its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 21.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 47,408 shares of the bank’s stock after selling 13,279 shares during the quarter. Citigroup Inc. owned approximately 0.15% of Customers Bancorp worth $3,099,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the first quarter worth $37,000. Farther Finance Advisors LLC grew its position in shares of 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 buying an additional 260 shares during the last quarter. CX Institutional acquired a new stake in shares of Customers Bancorp in the third quarter valued at about $67,000. Smartleaf Asset Management LLC increased its stake in shares of Customers Bancorp by 17.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock valued at $115,000 after buying an additional 256 shares during the period. Finally, Osaic Holdings Inc. raised its position 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 last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CUBI shares. Stephens cut Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 target price on the stock. in a report on Friday, February 6th. Zacks Research upgraded shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Wall Street Zen lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Finally, Morgan Stanley boosted their target price on shares of Customers Bancorp from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Customers Bancorp Trading Down 2.6%

CUBI opened at $68.45 on Friday. The company has a fifty day moving average price of $74.94 and a two-hundred day moving average price of $70.57. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $82.56. The company has a market cap of $2.34 billion, a P/E ratio of 11.04 and a beta of 1.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76.

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

Customers Bancorp announced that its board has initiated a stock repurchase plan on Wednesday, February 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

About Customers Bancorp

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.