EJF Capital LLC Makes New Investment in Customers Bancorp, Inc $CUBI

EJF Capital LLC bought a new position in Customers Bancorp, Inc (NYSE:CUBI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 26,178 shares of the bank’s stock, valued at approximately $1,711,000. EJF Capital LLC owned 0.08% of Customers Bancorp at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Rafferty Asset Management LLC lifted its position in shares of Customers Bancorp by 30.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 49,833 shares of the bank’s stock valued at $3,258,000 after acquiring an additional 11,494 shares in the last quarter. American Century Companies Inc. raised its stake in Customers Bancorp by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock valued at $61,829,000 after purchasing an additional 69,200 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Customers Bancorp by 96.4% in the third quarter. Quantbot Technologies LP now owns 62,440 shares of the bank’s stock valued at $4,082,000 after purchasing an additional 30,643 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Customers Bancorp by 451.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after buying an additional 767 shares during the period. Finally, Harbor Advisors LLC grew its holdings in shares of Customers Bancorp by 26.1% during the third quarter. Harbor Advisors LLC now owns 29,000 shares of the bank’s stock valued at $1,896,000 after buying an additional 6,000 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CUBI. Morgan Stanley began coverage on Customers Bancorp in a research note on Monday, December 8th. They issued an “equal weight” rating and a $90.00 price objective for the company. Stephens cut shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a report on Friday, February 6th. Maxim Group set a $100.00 price objective on shares of Customers Bancorp in a research note on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Customers Bancorp in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.80.

Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 128,185 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total value of $8,899,884.55. Following the transaction, the chief executive officer owned 790,031 shares of the company’s stock, valued at $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.69% of the stock is owned by insiders.

Customers Bancorp Stock Down 6.6%

Customers Bancorp stock opened at $67.24 on Friday. 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, Inc has a 1-year low of $40.75 and a 1-year high of $82.56. The firm’s fifty day simple moving average is $75.52 and its 200-day simple moving average is $70.51. The company has a market capitalization of $2.30 billion, a P/E ratio of 10.84 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share 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 earnings per share. Sell-side analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp announced that its board has initiated a share buyback plan on Wednesday, February 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the bank to purchase up to 4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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.