Quantinno Capital Management LP Raises Stake in Customers Bancorp, Inc $CUBI

Quantinno Capital Management LP grew its stake in Customers Bancorp, Inc (NYSE:CUBI) by 73.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,387 shares of the bank’s stock after acquiring an additional 8,624 shares during the quarter. Quantinno Capital Management LP’s holdings in Customers Bancorp were worth $1,415,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of Customers Bancorp by 11.5% during the 1st quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after acquiring an additional 553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Customers Bancorp by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock worth $885,000 after purchasing an additional 786 shares during the last quarter. Millennium Management LLC raised its stake in Customers Bancorp by 71.4% during the first quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after purchasing an additional 114,430 shares during the period. Jones Financial Companies Lllp purchased a new position in Customers Bancorp during the first quarter worth about $37,000. Finally, Creative Planning acquired a new position in Customers Bancorp in the 2nd quarter valued at about $250,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Up 0.7%

NYSE CUBI opened at $83.38 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $2.82 billion, a P/E ratio of 10.17 and a beta of 1.49. The firm’s 50-day moving average is $78.20 and its two-hundred day moving average is $74.82. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $84.38.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The business had revenue of $227.28 million for the quarter, compared to the consensus estimate of $229.24 million. During the same period in the previous year, the firm earned $1.80 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

Wall Street Analyst Weigh In

CUBI has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Hovde Group upped their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. DA Davidson upped their price objective on Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. Morgan Stanley increased their price objective on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. raised their target price on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.69.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 68,821 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the transaction, the chairman directly owned 667,757 shares in the company, valued at $53,480,658.13. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 160,315 shares of company stock valued at $12,578,896 over the last 90 days. 10.45% of the stock is owned by insiders.

Customers Bancorp 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.