Rafferty Asset Management LLC Has $3.26 Million Stock Holdings in Customers Bancorp, Inc $CUBI

Rafferty Asset Management LLC grew its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 30.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 49,833 shares of the bank’s stock after buying an additional 11,494 shares during the quarter. Rafferty Asset Management LLC’s holdings in Customers Bancorp were worth $3,258,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CUBI. Jones Financial Companies Lllp bought a new stake in Customers Bancorp in the 1st quarter valued at about $37,000. Farther Finance Advisors LLC grew its stake in Customers Bancorp by 63.1% in the third 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. Aster Capital Management DIFC Ltd increased its holdings in shares of Customers Bancorp by 451.2% during the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after acquiring an additional 767 shares in the last quarter. CX Institutional acquired a new position in shares of Customers Bancorp during the third quarter worth approximately $67,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after purchasing an additional 256 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Stock Up 1.2%

CUBI opened at $69.89 on Wednesday. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $82.56. The firm has a market capitalization of $2.39 billion, a P/E ratio of 11.27 and a beta of 1.66. The company’s 50-day moving average is $75.23 and its 200 day moving average is $70.59. 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:CUBI) last issued 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. The business had revenue of $236.90 million during the quarter, compared to the consensus estimate of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period in the prior year, the firm posted $1.36 EPS. Research analysts expect that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp announced that its Board of Directors has approved a share buyback program on Wednesday, February 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of recent research reports. TD Cowen restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp 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 report on Sunday, January 25th. Stephens downgraded Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a research note on Friday, February 6th. Finally, Weiss Ratings raised Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Two research 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 issued a Sell rating to the stock. According to data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.