Evergreen Capital Management LLC Acquires Shares of 9,457 Customers Bancorp, Inc $CUBI

Evergreen Capital Management LLC acquired a new stake in shares of Customers Bancorp, Inc (NYSE:CUBIFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,457 shares of the bank’s stock, valued at approximately $691,000.

Several other institutional investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Customers Bancorp in the 3rd quarter worth about $29,000. Farther Finance Advisors LLC lifted its holdings 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 worth $44,000 after acquiring an additional 260 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the 1st quarter worth about $37,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after acquiring an additional 767 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of Customers Bancorp in the 3rd quarter worth about $67,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Down 4.3%

CUBI stock opened at $74.13 on Friday. The company has a market capitalization of $2.50 billion, a PE ratio of 9.41 and a beta of 1.57. Customers Bancorp, Inc has a 12 month low of $48.30 and a 12 month high of $82.56. The firm’s 50-day moving average is $70.84 and its 200 day moving average is $71.36. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00.

Customers Bancorp (NYSE:CUBIGet Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, topping the consensus estimate of $1.88 by $0.09. The company had revenue of $225.40 million for the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.41%. The firm’s revenue was up 57.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.54 EPS. On average, research analysts anticipate that Customers Bancorp, Inc will post 8.35 EPS for the current year.

Customers Bancorp declared that its board has approved a share repurchase plan on Wednesday, February 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on CUBI. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a report on Monday, January 26th. JPMorgan Chase & Co. lowered their target price on shares of Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 target price on shares of Customers Bancorp in a report on Tuesday, January 6th. Wall Street Zen lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Morgan Stanley lowered their target price on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.42.

Get Our Latest Stock Report on Customers Bancorp

Key Headlines Impacting Customers Bancorp

Here are the key news stories impacting Customers Bancorp this week:

Customers Bancorp Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

Receive News & Ratings for Customers Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.