Allspring Global Investments Holdings LLC Increases Stake in Customers Bancorp, Inc $CUBI

Allspring Global Investments Holdings LLC boosted its stake in Customers Bancorp, Inc (NYSE:CUBI) by 9.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 461,956 shares of the bank’s stock after buying an additional 40,104 shares during the period. Allspring Global Investments Holdings LLC owned 1.37% of Customers Bancorp worth $32,776,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CUBI. Vanguard Group Inc. lifted its position in Customers Bancorp by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock valued at $162,424,000 after buying an additional 66,031 shares during the period. State Street Corp grew its stake in shares of Customers Bancorp by 1.8% in the 4th quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock worth $133,998,000 after buying an additional 32,449 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Customers Bancorp by 3,074.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock valued at $63,732,000 after buying an additional 844,141 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Customers Bancorp by 213.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after buying an additional 529,987 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Customers Bancorp by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 757,845 shares of the bank’s stock valued at $55,423,000 after buying an additional 63,984 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBI has been the topic of a number of recent research reports. DA Davidson increased their target price on Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. lifted their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Piper Sandler upped their target price on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Finally, Morgan Stanley raised their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $89.62.

Insider Activity

In other Customers Bancorp news, EVP Philip Watkins sold 3,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $75.67, for a total value of $227,010.00. Following the completion of the sale, the executive vice president owned 43,993 shares in the company, valued at approximately $3,328,950.31. This represents a 6.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total value of $4,597,812.45. Following the sale, the chairman owned 767,557 shares of the company’s stock, valued at $58,510,870.11. This represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 10.45% of the company’s stock.

Customers Bancorp Trading Down 0.2%

Customers Bancorp stock opened at $78.15 on Monday. The business has a 50-day simple moving average of $76.08 and a two-hundred day simple moving average of $74.42. The company has a market cap of $2.64 billion, a P/E ratio of 9.92 and a beta of 1.48. Customers Bancorp, Inc has a 52-week low of $59.34 and a 52-week high of $82.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, topping the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. During the same period in the prior year, the business posted $1.54 EPS. Customers Bancorp’s revenue was up 57.9% on a year-over-year basis. Analysts predict that Customers Bancorp, Inc will post 8.35 EPS for the current year.

Customers Bancorp Company 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.